Katie Benner and Nathaniel Popper write in the New York Times that Mike Cagney, a co-founder of Social Finance, is stepping down as chief executive and chairman after sexual harassment claims at the start-up Silicon Valley investment firm.
Boards of Directors would be wise to become more proactive in finding out what is actually going on in their organizations. In the many situations I have dealt with on harassment, wrongdoing and workplace culture, it never ceases to amaze me on how long this goes on before it is exposed; and how boards take cover by claiming ignorance. More often than not, feigning ignorance is not the real reason; rather it is gross negligence and/or a cover-up.
I have written about this dynamic in my book, From Bully to Bull’s-Eye: Move Your Organization Out of the Line of Fire, pointing out that boards need to be held accountable for breaches of workplace safety, especially psychological safety.
Photo credit: Wei Tchou