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What a brave step!
Who decides who should go on the list?
What objective criteria will be used?
What steps can an individual take to be taken off the list? (i.e. some form of appeal process which will guard against the manager losing his/her job simply because their face no longer fits or they've stood up the powers that be).
What provision is there against the manager that goes into a Trust, puts in a whole load of "quick fixes" which might initially look good and then moves onto the next Trust before the cracks appear?
Surely, at the level of the manager we're talking about, their reputation generally precedes them and if they get moved from job to job because they have chums in high places then what will a blacklist achieve?
There is an alternative proposal which is generally used for the rest of us; take up references and take action against a referee that gives glowing reference that later turns out to be unreliable (there is legal precedent for this).