The current study is the first to report N2 Defining Issues Test (DIT) moral reasoning scores and life-story interviews of advertising executives perceived as ethical leaders. Combining N2 scores with in-depth moral justifications provides a detailed view of morality to better understand what normatively appropriate behavior is, both in and outside of advertising, and how it develops. Scores reflect the preference to apply universal moral principles, especially when depicting strategic communication scenarios, yet there is less preference for universal moral reasoning when personal interest justifications are also considered. Life stories provide evidence of introspection and growth in response to adversity and ethical breaches; situational moral reasoning reflective of the human-centric, empathetic, and interpersonal nature of advertising; and a desire to do social good representative of empathy in action.