There is no substitute for a culture of integrity in organizations. Compliance alone with the law is not enough. History shows that those who make a practice of skating close to the edge always wind up going over the line. A higher bar of ethics performance is necessary. That bar needs to be set and monitored in the boardroom.  ~J. Richard Finlay writing in The Globe and Mail.

Sound governance is not some abstract ideal or utopian pipe dream. Nor does it occur by accident or through sudden outbreaks of altruism. It happens when leaders lead with integrity, when directors actually direct and when stakeholders demand the highest level of ethics and accountability.  ~ J. Richard Finlay in testimony before the Standing Committee on Banking, Commerce and the Economy, Senate of Canada.

The Finlay Centre for Corporate & Public Governance is the longest continuously cited voice on modern governance standards. Our work over the course of four decades helped to build the new paradigm of ethics and accountability by which many corporations and public institutions are judged today.

The Finlay Centre was founded by J. Richard Finlay, one of the world’s most prescient voices for sound boardroom practices, sanity in CEO pay and the ethical responsibilities of trusted leaders. He coined the term stakeholder capitalism in the 1980s.

We pioneered the attributes of environmental responsibility, social purposefulness and successful governance decades before the arrival of ESG. Today we are trying to rebuild the trust that many dubious ESG practices have shattered. 


We were the first to predict seismic boardroom flashpoints and downfalls and played key roles in regulatory milestones and reforms.

We’re working to advance the agenda of the new boardroom and public institution of today: diversity at the table; ethics that shine through a culture of integrity; the next chapter in stakeholder capitalism; and leadership that stands as an unrelenting champion for all stakeholders.

Our landmark work in creating what we called a culture of integrity and the ethical practices of trusted organizations has been praised, recognized and replicated around the world.


Our rich institutional memory, combined with a record of innovative thinking for tomorrow’s challenges, provide umatached resources to corporate and public sector players.

Trust is the asset that is unseen until it is shattered.  When crisis hits, we know a thing or two about how to rebuild trust— especially in turbulent times.

We’re still one of the world’s most recognized voices on CEO pay and the role of boards as compensation credibility gatekeepers. Somebody has to be.

Another uncanny resemblance to an era that seems determined to hold our attention, if not repeat itself in more troubling ways.

More than a year ago, we noted with some trepidation a significant milestone that had been reached in the early 21st century that mirrored events in the 1920s.   The U.S. government had reported that income concentration among the top one percent of earners had reached a point unseen since 1929.  That news gave us a bit of a chill, as we said then.   Another unsettling augury of what seems to be an inexorably unfolding future was seen yesterday when the market capitalization of General Motors Corporation dropped to its 1929 level.  GM stock yesterday fell below $5 for the first time since the 1950s.

Once the largest corporation in the world, GM is more explicit today for its shrinking shadow than it is for its once dazzling self.  It is just one of many previously reliable talismans of stability and confidence that today seem to be crumbling in front of our eyes, calling us back to the indelible memory of economic turmoil whose reality we are at present struggling to avoid.

GM’s stock lost close to one-third of its value yesterday.  Today, the stock is up slightly to $4.98.  The company remains optimistic about its survival. The ghost of Alfred P. Sloan may be less sanguine.