A new Harris Poll study examined the importance of CEO reputation on corporate reputation. The survey was conducted among nearly 2,000 U.S. adults, 18 years and over, from February 12-14. If you know me, you probably know that I have a deep background in CEO reputation and probably was the first researcher to ever look at the inextricable link between CEO and corporate reputation. It has been a life long pursuit. While at Weber Shandwick, we conducted several reputation surveys that investigated the premium that goes with a strong CEO reputation.

Thus, I was excited to see this very timely research on CEO reputation from The Harris Poll and my good friend Ray Day. I believe it is even more relevant because many CEOs and companies have been out front in speaking up about societal issues and wondering how it might impact their reputation and their company’s. CEO activism (or advocacy) has possibly drawn more attention to the role of the CEO than anticipated as government failed to step up to many societal challenges of the last few years. In fact, 63% of Americans said they are aware of CEOs in business today — a fairly high level of awareness considering the tumult of the past 12 months. The research’s key findings include:

• 85% of Americans say the CEO has a significant impact (a lot/some) on company reputation. Americans also say that CEOs impact a company’s ethical standards (84%) and its financial performance (83%).

• If Americans could go into business with a CEO, the top three named are Amazon’s Jeff Bezos, Tesla’s Elon Musk and Apple’s Tim Cook. Two of the three are founders and all could be considered high tech CEOs. Americans have always valued the genius of founders and the entrepreneurial spirit. No women CEOs made the top 10. Thankfully, GM’s Mary Barra came in at #11 and Meg Whitman at #12.

• The highest valued CEO quality is having high ethical standards. Ethics seems to be winning the day. Is it because truth has become a rare commodity?

• 68% of Americans say that the nation needs business leaders now more than ever to help lead the country out of the trauma of COVID, racial injustice and other inequities. The issues of greatest importance, according to Americans, are income equality (33%), misinformation and hate speech (22%), climate change (19%), diversity (17%) and the role of women in the workplace (10%). I was disappointed to see diversity and women in leadership so low on the list of what Americans think business leaders should tackle. Oh well. We still have work to do.

• CEOs face more risk than reward when speaking out (59% vs. 41%, respectively). That has been consistent in the research I’ve been involved with. This is what I call the NoWin choice.

• The country is divided on whether CEOs should speak out or not. And it is a reminder once again that CEO activism is not fully endorsed by the American public. Over one half (52%) say that CEOs should focus on their company’s products and services and not social issues. About one-third (30%) of Americans say it is best for CEOs to take a stand even if it offends some people. The remaining segment (19%) say that CEOs should not take a stand on social issues because it could be offensive to some people. Americans are clearly divided on whether CEOs should speak up on social issues but compared to several years ago, it is clear that CEOs cannot always remain silent. “No comment” does not cut it anymore.

Great to have this information and reminds us that we have work to do but yet again, CEO reputations matter. They matter a great deal.