If he means we need a professional code of ethics, and the organized professional discipline that makes such a code meaningful, sure, maybe.
But it's odd for a software executive to make that case, since the only reason such a code would be necessary in software would be to provide a countervailing force so that developers resist unethical demands from their employers. IOW, if it weren't for the lack of ethics by Smith’s peer group, their subordinates wouldn’t need new constraints.