In corporate governance theory, whistleblowing is presented as a noble act. It is the final alarm bell when internal controls, risk systems and ethics programmes fail to deter wrongdoing. But in practice, whistleblowers often pay the price for their courage.
They are labelled disloyal, isolated, retaliated against, quietly restructured out, or, in the worst case, wiped out. The real shame is that this frequently happens under the watch of boards of directors that claim to uphold integrity and accountability.
Boards often approve whistleblowing policies and list them in their governance reports. Hotlines are set up, ethics posters are displayed, and employees are encouraged to “see something, say something.”
But what happens after that initial call is made? Who follows up or protects the whistleblower? More often than not, boards delegate…
