alt Hacker NewsAs a board director, you'd trust him to tell you the truth when he's completely fine lying to his wife, family, friends -- and you, to your face, leading you to defend him publicly putting your reputation and that of the whole board and company at risk, while he continues to lie to you about multiple secret affairs, including with two direct reports and a big (perhaps legally dubious and potentially dangerous) customer?
Forget the spy stuff. If your CEO is schtupping customers and employees, are you really going to trust him with running your company? If you, as a board member, don't draw the line at hiding the sausage in your customers and subordinates, where do you draw it? Drunken bar fights? Road rage incidents? Rape? Murder? All fine as long as it's his personal life? All fine if he's making the company money? I don't think that's how most BoDs for massive corporations operate.
Basically yes I would not care at all if he's lying to his wife or family or friends, that's his own personal life. It's not illegal to lie or cheat or bang your customers. Criminal behaviour is much worse and besides, you may as well get rid of them if they're going to jail anyway. If I was on the board I'd want the guy who's getting me rich, not a moral CEO or one you could have a beer with, or a nice guy. If the reputational damage of non-illegal activity (or even minor illegal activity - I wouldn't care if the CEO is doing drugs or speeding or whatever) is not going to damage the company as much as getting rid of him (which it wouldn't, who on earth is going to boycott a company for being run by a cheater?) then it just doesn't make sense to get rid of them.