(Introduced by Larry Benveniste)
Thank you, Larry.
It is my birthday, but let me make one thing perfectly clear: Being here tonight is my birthday gift to myself.
I feel so fortunate to be asked to recognize Mrs. Goizueta and the accomplishments of all of tonight's distinguished honorees. This is one invitation I simply couldn't pass up.
It's a particular pleasure to see the Goizueta family here.
Awards are always special, but sharing the moment with your family – it just doesn't get any better!
I'm going to be mindful of my remarks tonight.
It's a known fact that Mrs. Goizueta used to remind her husband Roberto that no one ever comes away from listening to a speech saying, "That was great… but I wish it had been longer."
I'll certainly bear that in mind.
Being at an Emory function always feels like coming home. There are so many points of connection we share:
- The Donald Tam Institute for Jewish Studies, which we created together a few years ago…
- Our "Atlanta Falcons Sports Management" partnership with the business school…
- My role as on the board of trustees, where I get to hear about – and hopefully help influence – the exciting future Jim Wagner and others are helping to build…
- And, very importantly, my daughter Dena is a proud alum: political science, class of '93.
Our closest connection, though, is something altogether different.
It's something Emory calls "Principled Leadership."
It's an idea Roberto Goizueta nurtured and spread throughout the business world during his lifetime.
It means, as he said, "If we do our jobs, we are allowed to contribute to society in very meaningful ways."
Let me repeat that: "If we do our jobs, we are allowed to contribute to society in very meaningful ways."
Principled Leadership means sticking to your values…
It means making decisions that avoid short-term fixes at the expense of customers, or associates, or the community.
Always trying to do right by them.
And adhering to the highest ethical standards.
Seems straightforward enough – something we should all easily embrace.
It's certainly a philosophy we tried to follow during my tenure at Home Depot, and now with the Falcons and our other businesses.
But any CEO will tell you, it's actions – not words – that count in business.
The rhetoric of Principled Leadership gets tested most when times are toughest. In a crisis, for instance.
Let me share a real-life example that hits particularly close to home.
Consider what it's like to be one of Atlanta's best-known and most popular brands… loved by thousands, if not millions.
Suddenly, in a very public way, you're found guilty of doing something so terrible – that it would prompt national, even international headlines.
It would spark thousands of voice mails and letters.
Protests would be launched against you.
People would literally take to the streets, so upset by what you'd done.
Your reputation is put at risk.
You might think I'm talking about Michael Vick and your Atlanta Falcons.
Actually, what I just described was the aftermath of the New Coke introduction in 1985.
As Don Keough and others will tell you – I'm not exaggerating.
Looking back at all the uproar, you'd have thought Coke was trying to rewrite the U.S. Constitution by changing its formula.
I'm sure Roberto took it particularly hard.
Yet, just a decade later – in 1996 – The Coca Cola Company once again stood atop the world – as the best-known brand and the most admired corporation in the world. That global admiration continues today – not only for financial performance, but for the company's outstanding commitment to social responsibility.
During his lifetime, Roberto Goizueta created more wealth for shareholders than any other CEO in the company's history.
Why is it that now, 10 years after his passing, we don't remember him as the CEO who oversaw a failed strategy?
Instead, we remember him – rightly – as a man of tremendous achievement, who set the vision and high expectations, and held to solid values.
I believe it's because Roberto Goizueta never lost sight of Principled Leadership.
He held true to his values:
Listening to customers.
Treating people right.
Seeing potential for business to deliver a greater good to society.
He said many times, he believed Coke shouldn't be measured by the product it provided, but by the value it added.
And his actions matched his words.
Across town, at Home Depot, Bernie Marcus and I watched Roberto with enormous admiration and respect.
We were building our own values-based business – with our own style of Principled Leadership.
We probably weren't as deliberate as Coke in formalizing our values. In fact, for years we didn't even write them down.
But the parallels are striking.
In particular, we believed strongly in supporting people and communities. I'd like to briefly touch on importance of that.
Let me take you back to 2001 – the year I retired from Home Depot.
By that time, Home Depot had racked up 23-year track record of growth.
46% a year for sales;
49% a year for earnings;
45% a year for stock.
I'm equally proud that in the same year, Home Depot was ranked number-one in social responsibility in a poll conducted by Harris Interactive.
That didn't happen by chance.
From the start, Bernie and I had a business plan based on six core values.
1. Put People First
Recognizing associates are the center, the heartbeat of your business.
2. Listen and Respond
No reinterpretation, filters.
Listen to customers, fans, shareholders, associates.
3. Include Everyone
Good ideas are everywhere.
Blow up walls.
4. Innovate Continuously
Find new ways to add value, reinvent yourselves.
There is no finish line.
5. Lead By Example
Walk the talk.
6. Give Back to Others
Understanding the well-being of business can't be separated from well-being of society.
I believe this values-based approach is what set us apart from the competition.
It created a deeper bond with customers.
To them, we were always more "Home" than "Depot".
At the end of the day, Home Depot wasn't just about money. It was about meaning.
We believed profits and values could – and should – co-exist.
And it worked.
It's the same model we follow today at the Falcons, the Georgia Force, our Family Foundation, our guest ranch – even the throwback 1950's restaurant we own in Montana.
They're different businesses, but the values are transferable.
In each business, we don't measure by profits alone.
We take equal pride in how we treat each other, how we give back to communities.
Because creating value depends on values.
Only a values-driven culture creates enduring value. You can't have one without the other.
Ultimately, that value will be measured by what we return to society. My personal standard is always "Is this company, or this institution, worthy of your life?"
The answer needs to be "yes."
If it isn't, you're in the wrong organization.
Through the years, I've heard my share of companies emphasize values.
I ran across one company's values not too long ago that struck me as especially powerful, direct, and clear.
There were four main points – let me quickly read them to you:
1) Communication. "We have an obligation to communicate. Here, we take the time to talk with one another… and to listen. We believe that information is meant to move, and that information moves people."
2) Respect. "We treat others as we would like to be treated ourselves. We do not tolerate abusive or disrespectful treatment."
3) Integrity. "We work with customers and prospects openly, honestly and sincerely. When we say we will do something, we will do it; when we say we cannot or will not do something, then we won't do it."
4) Excellence. "We are satisfied with nothing less than the very best in everything we do. We will continue to raise the bar for everyone. The great fun here will be for all of us to discover just how good we can really be."
Powerful stuff! Anyone know who's?
Those were the corporate values of Enron Corporation, published in 2001.
Again, it goes to show: Actions are what count – not words.
It's about "walking the talk."
If there's a disconnect between what you say is important and what you do, then values are worthless.
Principled Leaders don't just talk about values – they live them.
The way Roberto Goizueta did.
His message lives on, in the halls of Emory, at his namesake institution.
There, people learn not just about the "nuts and bolts" of business, but about its heart.
There they can become well-rounded, principled leaders capable of stepping onto a global stage.
They can fulfill the aspirations that I believe would make Roberto Goizueta proud.
There's one more way his message of "Principled Leadership" lives on:
Through the work of the Goizueta Foundation.
That's a tribute to Mrs. Goizueta and her determination to carry on their shared passion for giving back.
Like her husband, she committed herself to sharing their good fortune with other families and the community.
I can't adequately express what an honor it is for me to celebrate that work – and the legacy of the Goizueta name.
To thank the family…
For all that has been, and what will be…
For dreams that have been fulfilled, and those yet to be realized…
And they will be realized, because of the continuing leadership and generosity of Olga Goizueta.
I know I run the risk of doing the very thing she dislikes most – praising her in public.
But please, Olga, if you'll allow me – let me simply say, "Thank you."
For the lives that have been changed, the people who have been touched, the good deeds that have been done.
For all the opportunities you –and you alone – have given others.
Your principled leadership has made it possible.
Thank you.
