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Trump Disbands Business Councils Post Multiple CEO Resignations

Trump Disbands Business Councils Post Multiple CEO Resignations

Donald Trump, yesterday disbanded two economic advisory panels after a string of resignations from CEO’s who haven’t been too happy with the POTUS’s reaction to the violence in Charlottesville over the past weekend.

Taking to his favorite forum, Trump tweeted that, “rather than putting pressure on the businesspeople of the Manufacturing Council & Strategy & Policy Forum, I am ending both. Thank you all!

But according to an article in the Wall Street Journal, Trump’s announcement only came after several CEO’s had walked out of the advisory panels. According to the WSJ, Stephen Schwarzman, CEO of the Blackstone Group, and head of the Strategic & Policy Forum, brought together a majority of the members on a conference call, where they all voted to leave. The WSJ further reported that the news was passed on to Trump, via his Son-in-Law, Jared Kushner.

IBM CEO Ginny Rometty, in an email to her staff, stated that, “this group can no longer serve the purpose for which it was formed. The despicable conduct of hate groups in Charlottesville last weekend, and the violence and death that resulted from it, shows yet again that our nation needs to focus on unity, inclusion and tolerance.

Reports suggest that the members of the Manufacturing council also voted to disband at the same time.

Since February, both business councils have seen a steady drop off of business executives who have disagreed with Trump’s various stances on issues ranging from immigration, climate issues, to now the violence in Charlottesville. With former Uber CEO Travis Kalanick leading the pack in February, resigning over the immigration issue, Trump’s decision to take America out of the Paris Climate Accord led to Tesla CEO, Musk & Disney CEO, Iger, resigning from the council as well. This week itself, Trump’s manufacturing council saw eight top executives quit.

Trump’s irritation at the fact was clearly palpable over the week, as he took to twitter to berate the CEO’s as they ‘dropped’ out. On Monday, Trump tweeted. “Now that Ken Frazier of Merck Pharma has resigned from President’s Manufacturing Council, he will have more time to LOWER RIPOFF DRUG PRICES!

Following that, on Tuesday, Trump tweeted, “For every CEO that drops out of the Manufacturing Council, I have many to take their place. Grandstanders should not have gone on. JOBS!

With yesterday’s tweet, Trump at least made one thing clear – someone finally knocked some sense into the President that he can’t hope to take on the people of America, and the biggest companies in America, on whom he relies on to help fulfill his campaign promises.

 

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Image Source: Delaware Public Media

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