Tristar advocates ethical foundation for board decisions

Eugene Mayne, founder and CEO of the Tristar Group, highlighted the importance of boardroom morality as a cornerstone of corporate decision-making, both to counter modern ills and impending threats, and to build an enduring legacy.

Addressing a distinguished audience at the opening session of the 2025 London Global Convention on Corporate Governance and Sustainability, he stressed how ethical considerations can and must override the age-old drivers of fear and greed that commonly influence boardroom dynamics.

“Morality is not about choosing virtue over victory – it is about recognising that in the long haul, the two are inseparable. Boards will do well to stop seeing ethics as a soft option, and turn it into their strategic advantage,” he said, citing examples from corporate history.

Mayne was the keynote speaker at the Institute of Directors (IOD), India’s four-day event, themed ‘Boards in an Unpredictable World: Navigating Geopolitical Shifts, Climate Crises and Technological Disruptions’. The audience included The Baroness Verma of the UK House of Lords and a large representation of business leaders from around the globe.   

Using his personal journey as illustration, Mayne recounted the company’s growth from a small local transport business to a global energy logistics provider, and how he learned firsthand, the significance of ethics in commerce. “About 25 years ago, when I founded Tristar, we had no capital to fall back on – just courage, conviction, and a clear sense of right and wrong.” 

He narrated how, facing daunting challenges and the temptation to compromise, Tristar consistently chose to uphold strong values instead of pursuing quick wins or short-term gains. “Those deliberate and often difficult choices, made during the toughest of times, became the bedrock on which we stand today,” he said, of the Group’s prevailing success and sterling reputation.

Mayne stressed that the strongest force a board can wield is moral clarity, because it shapes not just what a company earns today, but what it becomes. “Doing the right thing is not quantified on spreadsheets and it does not come with a guidebook. It is a series of deliberate choices, often when it is really challenging or very costly, or both.” His remarks underscored the vital role of ethics in guiding corporate boards through unpredictable crises and complex dilemmas.

The event also saw Tristar receiving its second Golden Peacock Award for Sustainability, adding to the company’s record of 11 Golden Peacock Awards in the past seven years in categories such as Business Excellence, Corporate Social Responsibility (CSR), Occupational Health & Safety (OHS) and Environmental, Social & Governance (ESG).

IOD India’s prestigious Golden Peacock Award is conferred following a rigorous, independent evaluation process conducted by professional assessors. The awarding ceremonies was attended by Andhra Pradesh Chief Minister N. Chandrababu Naidu.