Leading in the Spotlight: CEO Experiences of Corporate Governance Crises in the Digital Era

Abstract

Strategic leadership within corporate governance has become increasingly complex due to the rise of digital transparency and reputational vulnerability. While prior studies have addressed governance structures and outcomes, limited attention has been given to how chief executive officers (CEOs) personally experience and interpret governance crises in real-time. Despite growing awareness of leadership under pressure, little is known about how CEOs construct meaning during moments of ethical ambiguity and digital exposure—raising the question: How do CEOs make sense of corporate governance breakdowns in the digital era?

This study applies an interpretative phenomenological approach to examine the lived experiences of six CEOs who navigated governance crises amplified by digital disruption. Through in-depth semi-structured interviews and thematic analysis, the research reveals four major themes: reputational pressure, ethical ambiguity, strategic isolation, and adaptive meaning-making. These findings demonstrate that CEOs do not follow linear decision protocols but instead engage in deeply personal, reflective processes shaped by emotional and contextual realities. The analysis uncovers the existential weight of executive leadership and how subjective interpretation influences crisis responses.

This study contributes to a more nuanced understanding of corporate governance by highlighting the internal, human-centered dynamics of leadership during disruption and invites future research to explore executive experiences across broader institutional and cultural contexts.