The resignation of Paul Wolfowitz as president of the World Bank should serve as a clear lesson for any CEO or senior executive.

Dear Mr CEO – You are not immune.You are not above the law or public opinion. Your actions and behaviour will be scrutinized.

Barbara Stocking, the director of aid group Oxfam, said that Wolfowitz had done the right thing by quitting. His resignation "shows that even the office of the president has to play by the rules".

What are the rules of the game for CEO’s today? CEO’s need to realise that TRUST is the number one commodity today. It affects your own and your organisation’s reputation.It impacts on your delaings with various stakeholders. What stakeholders are seeking is transparent and ethical behaviour coupled with an understanding of the accountabilities that come from being a leader.

The word CEO does not stand for Chief Entertainment Officer, Chief Embezzlement officer nor Chief Ego Officer. In some ways it can be interpreted as Chief Ethics Officer. Waterfalls flow top to bottom.

It is the CEO that leads the way and sets the tone for either a cherished reputation or for potential disaster.

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