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A Good Ancestor
Directors & Boards
ENRICHED
Details
- Date Published
- 29 Jan 2025
- Priority Score
- 2
- Australian
- No
- Created
- 4 Sept 2026, 04:02 pm
Authors (1)
Description
Bob Rock on the need for directors to consider the long-term impact of their actions on future generations.
Summary
The article advocates for a long-term 'ancestral' mindset in corporate governance, emphasizing the responsibility of directors to consider the impact of their decisions on future generations. While it focuses broadly on strategic foresight and ethics, it highlights the critical role of boards in managing technological risks and R&D investments that shape long-term societal well-being. This perspective is foundational to AI safety discourse, as it encourages the institutionalization of intergenerational responsibility necessary to mitigate catastrophic risks associated with frontier AI development.
Body
A Good AncestorArticlesGovernanceColumnsBy Robert H. RockJanuary 29, 2025Bob Rock on the need for directors to consider the long-term impact of their actions on future generations.Sign Up for the NewsletterNavigate the Boardroom.Sign up for the Directors & Boards newsletter and break through the clutter with the latest news, trends, and analysis impacting public company boardrooms. Email No thanks. Take me back to the articles. Subscribe Image: MLR Media A Decrease font size. A Reset font size. A Increase font size. ShareLinkedinFacebookXCopy URLEmailPrint Along with Benjamin Franklin, Abraham Lincoln and Eleanor Roosevelt, Jonas Salk is on my personal Mount Rushmore as America’s foremost heroes. Dr. Salk, the developer of the polio vaccine, never patented his discovery, believing the vaccine was like “sunshine” that needed to be shared freely so its adoption would be widely accessible and readily affordable. As I reach 75, the retirement age from board service, I am reminded of Dr. Salk’s famous quote: “Our greatest responsibility is to be good ancestors.” His mindset was to think about the long-term impact of his actions on future generations who would assess his contributions to their health and well-being. The ultimate evidence of his success would not be known for many years. Before the widespread distribution of the vaccine, polio killed an estimated 500,000 people annually and paralyzed millions more. Dr. Salk’s discovery ultimately led to the near eradication of polio globally, which made him not just a good ancestor, but a great one. Inexplicably, he never received the Nobel Prize in Medicine, though, fittingly, many people think he did. Dr. Salk’s mindset led me to wonder about my legacy of board service. For my 14 corporate boards, will I be remembered as “a good ancestor?” In five-to-ten years, will the company’s board and its top management look back and be grateful for the decisions I and my board colleagues made in helping set strategic direction, develop management talent, allocate capital, build a positive culture and manage risk? During my tenure, these boards assessed corporate strategies, made major acquisitions, invested in new technologies and effected succession planning. Were these good decisions? How will the assessment of my board tenure hold up with the passage of time? For some U.S. Presidents, like Ulysses S. Grant, Harry S. Truman and Jimmy Carter, the assessment of their presidencies has improved with time, and President Joe Biden hopes his will as well. With the long lens of history, perspectives change and attitudes shift, resulting in altered judgments and rehabilitated legacies. Likewise, many companies considered industry leaders at the time have later fallen behind; while others, less admired then, have risen to prominence. - Advertisement - A board’s greatest responsibility is to oversee the positioning of the company for future success by assessing and monitoring corporate strategies, and by assuring the acquisition and development of essential talent. Success is often not known until many years after the tenure of the people who made these decisions. When I look back on the majority of my boards, I have admiration and sometimes heightened appreciation for their vision, perseverance and courage. They made farsighted decisions regarding strategic acquisitions, R&D investments, talent selection and competitive positioning. In hindsight, I think most were good ancestors.As I have retired from my director positions, I am grateful for the accolades, tributes and gifts from my board colleagues. I have been feted at retirement dinners, recognized in board proclamations and, from one board, given the opportunity to ring the closing bell at the New York Stock Exchange. In my farewell comments, I have thanked my fellow directors for the opportunity to serve, provide value and make friends. At my final board meetings, I have been asked to reflect on my board service, and sometimes I have taken the opportunity to offer some parting advice. I have had the privilege to serve on many boards, often as chair of the HR committee and sometimes as lead director. Did my board colleagues and I make the right investments in technology, marketing and people? Did the company achieve its strategic goals? Did it deliver long-term shareholder value? Did it adhere to the highest ethical standards?I hope I will be remembered as a good ancestor.About the Author(s)Robert H. RockRobert H. Rock is chairman of MLR Media, publisher of Directors & Boards.Related ArticlesChair and CEO: Split in Name Only? 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