At the Mendoza College of Business, the Notre Dame Deloitte Center for Ethical Leadership (NDDCEL) connects scholarship with real-world practice through its Executive in Residence program. This initiative brings accomplished professionals to campus to mentor students, connect with faculty, and model the principles of ethical leadership in action.
In 2025-26, the Center is proud to welcome Lee Wilson, retired Chairman and CEO of First Capital, and Cathy David, President of Merchandising at World Market and a Notre Dame alumna from the Class of 1985. Together, their decades of experience reveal not only ethical leadership in practice, but how it must evolve amid the most pressing challenges facing today’s business leaders.
For both executives, integrity and trust form the cornerstone of leadership. Wilson, who spent four decades in consulting and financial services, emphasized that “an ethical leader must chart a sustainable course supported by values, communicate why values matter, and then act accordingly.”
He believes that while many companies outline ethical codes, “the articulated ethical standards can be at odds with the implicit corporate ethics. Employees notice the difference and behave based on reality.” True culture, he explained, “is established from the top of the organization.”
David echoed that sentiment from a retail perspective, describing ethical leadership as something that cannot be switched on and off with the workday.
“You can’t be an ethical person and not an ethical business person. It’s a way of being, not something you put on when you put on your suit jacket to go to work.”
Cathy David
Her own experiences taught her that trust is a critical foundation of leadership. “Trust makes all the difference - people have to trust that their leaders will do the right thing. If they don’t trust and believe in the leader, they won’t believe in the vision and the work.”
When it comes to fostering an ethical culture, both executives emphasized consistency and accountability. Wilson recalls often reminding his teams to voice concerns.
“Good news travels fast,” but strong leaders must also “welcome bad news or they may be kept in the dark until it is too late.”
Lee Wilson
David underscored the importance of acknowledging both “the good and the bad,” explaining that when employees do the right thing, leaders should celebrate it, and when they fall short, “you can’t let that go.” For her, a workplace culture grounded in fairness and transparency is more powerful than any written rule.
“Culture trumps rules,” she said. “You might have a rule that says you don’t act a certain way, but if everyone does, it’s meaningless.” She believes culture comes to life through everyday decisions and consistent reinforcement, not through statements printed on posters or company handbooks.
Looking ahead, both leaders identified technology—particularly artificial intelligence—as one of the defining trends shaping the future of business. Wilson described AI as “the most consequential business challenge ever faced,” warning that “it will displace many white-collar workers in the same way automation has replaced blue-collar workers.”
Beyond economic implications, he expressed concern about the erosion of critical thinking. “The greatest risk is that people will stop thinking and learning,” he said. “AI has the potential to become the black box that managers fail to understand and manage.”
Yet, Wilson remains hopeful. He believes “business and government leaders will be forced to cooperate and address the issues,” and that human resilience will guide the transition.
David agreed that the pace of technological and social change has intensified the demands on leaders. “Today, the pace is exponentially faster,” she noted, citing a mix of macroeconomic uncertainty, generational shifts, global supply challenges, and the ‘always-on’ environment of modern business.
As World Market faced tariff disruptions, David recalled choosing to honor existing contracts with global suppliers despite financial strain—“because it was the right thing to do.” For her, that decision exemplified the balance between ethics and adaptability that leaders must strike in uncertain times.
“You can’t simply react,” she said. “You have to embrace change, face it head on, and figure out how to use it for good.”
Despite the complexity of today’s challenges, both executives see hope in people—particularly in the next generation of leaders.
For Wilson, creating a culture rooted in trust and teamwork remains one of his proudest achievements. “The most inspiring thing was when a manager said to me, ‘I never appreciated until now what a difference it makes to work for a good company.’”
David shared similar optimism through her mentorship of Notre Dame students. “What gives me hope,” she said, “is seeing young people embrace change, believe in what they’re doing, and understand the impact they can make. That’s what makes work meaningful.”
Through their reflections, Wilson and David embody what the NDDCEL strives to cultivate: ethical leadership that bridges vision and values, and that remains steadfast in the face of uncertainty.
Whether navigating the rise of AI or the intricacies of global trade, their lessons serve as reminders that ethics and leadership are inseparable—and that doing the right thing, even when it’s hard, is what sustains both people and organizations over time.
For more executive insights on creating ethical cultures: