Originally published in 2007, Henry is one of 25 leaders featured in this 2007 book by two noted leadership and innovation experts. Selected as one of the 14 Best Business Books of 2007 by Fast Company magazine, Apples are Square reveals the results of the authors’ five-year search for characteristics of the ideal 21st-century leader. One notable change to the book’s second edition is within the “Acknowledgements” section. The update details some of Henry’s accomplishments since the publishing of the first edition.

“[Givray] left something on the table more than once. The story of the first time he did so, which he has never told to anyone outside of a small number of close colleagues, family members, and friends, will leave your eyes wide open.

Givray served as CEO of a successful online legal services start-up for four years that spanned both the dot-com boom and bust periods. In 2001, after the bottom fell out of the financial markets and it was clear that it would be difficult to take the company public, Givray negotiated a deal in which LexisNexis would acquire the company. “We agreed on a price of $68.7 million, but when the deal term sheet came to us it stipulated that $1 million of it was to go directly to me,” he said. The buyer believed that the $1 million would help ensure Givray employed his full commitment, energy, enthusiasm and selling capabilities to make the transaction a reality.

The board of Givray’s company recognized his accomplishments, so they approved the million dollars. His executive team said, “Henry, you deserve this.” However, Givray knew that the million dollars was coming at the expense of the other shareholders, those who believed in the company – and him. Also, the president of LexisNexis didn’t understand that Givray was not necessarily motivated by money. Givray said: “Of course I was going to give my heart and soul to make the deal happen. It was the right thing to do; it was right for our employees, and given what was going on in the financial markets it was a phenomenal deal. I remember we had a late night board meeting where the board unanimously approved the deal, including the $1 million for me. I went home that night, and it just didn’t feel right. First, it put the board in a bad position. In effect, it put a gun to their heads. Second, it was taking away from other shareholders. And third, the reason behind it was to make sure that I was going to be motivated and energized, which was all wrong.”

The next morning Givray announced he was giving back the million dollars.

“Everyone was shocked,” he said. “It’s not as if I was going to make millions through stock options and was giving back one. Because of dilution and the collapse of the financial markets, my stock options were worthless and frankly, I was at a low point in terms of my financial assets. One person said to me, ‘No one is going to remember this after the deal is done.’ My answer was, ‘Yeah, but I would remember forever. If I don’t give the money back I’d have to live with the fact that I had not been true to my values.’ And you know what? I don’t regret giving back the money one bit. My wife was a little taken aback at first, but after we talked she completely understood and supported the move as I knew she would. I neither expected, nor did I get, any ‘bonus points’ for it either. As customary in these types of transactions, our board did award me a monetary bonus after the deal was done, though much more modest than the LexisNexis offer. Nevertheless, I instructed the board to use some of that bonus to award other members of my management team. I did what felt right, and it was really easy for me because I have always believed that doing things that are right is a much more powerful guide than doing things to derive a specific reward.”

Henry is quoted as follows:

“Over the years I’ve concluded that the value of a person’s life is not measured by how much money they’ve accumulated, how many deals they’ve done, how many titles they have, but by the quality of their relationships, the impact that they’ve had on other people’s lives, and the willingness and capacity to serve. I believe that if you connect to your values in your decisions and actions, then the other stuff is just the scorecard, and they’ll come your way.”

Smithbucklin and Henry’s success in building a vital company culture are prominently featured in this 2006 book. Winner of USA Book News’ 2007 National Best Books Award in the General Business category, the book is based on the author’s work and research with organizations such as SmithBucklin, Southwest Airlines, GE and Procter & Gamble. The author writes that during his tenure as Smithbucklin CEO, Henry set as his goal ensuring that all employees embrace a well-articulated culture that helps guide and inspire them to provide extraordinary service and create value for client organizations. He adds that Henry believes articulating, aligning, protecting and nurturing an authentic culture is one of the leader’s most important responsibilities.
“The Southwest Airlines culture is a direct product of its leaders’ commitment to people. Wal-Mart’s culture continues to reflect Sam Walton’s personality. Smithbucklin’s Henry Givray believes articulating, aligning, protecting, and nurturing an authentic culture is one of the leader’s most important responsibilities.”

Henry is quoted as follows:

“I never heard people talking about organizational culture when I went to work in the 1980s. But over the years, I’ve concluded that if an authentic organizational culture that gives guidance and inspires can be articulated, aligned, reinforced, and preserved, it will mean the difference between having a good year and building an enduring company. So I made culture the first thing I worked on with the leadership team.”

More…