Sustainability as a CEO Activism Trigger: The Portuguese Case

This study aimed to explore if and how the international growing trend of CEO activism is manifesting in the Portuguese context, by exploring the perspective of Portuguese CEOs on the topic, the course of action that they are taking, and how they evaluate it, namely within the sustainability framework. Following Howard Bowen’s legacy for responsible business practices and adding to that the actual growing pressure of societal problems, business leaders all around the world are being asked, if not demanded, to act and communicate as action persons who effectively contribute to a better common value creation. To address this topic, a qualitative methodology was implemented based on interviews to 24 Portuguese CEOs and used thematic analysis to explore them. Our findings reveal that, although Portuguese CEOs are aware of this trend, they acknowledge both risks and opportunities, but their activism in still incipient, although they strongly believe that their activism actions must be aligned with the values and mission of the organization they represent. Finally, Portuguese CEOs are convict that their activism should be firstly implemented and communicated within the organization, which is where most of them focus their action. This work provides an original mapping of the CEO activism landscape in Portugal and an insightful discussion of the CEO’s perspective on this growing phenomenon, looking at it by the power position that the leaders have, also in sustainability-related causes.