On August 14th, chief executives from three of America’s largest companies decided to step down from the President’s Manufacturing Council after the recent alt-right rally in Charlottesville, Virginia, in which the president was hesitant to immediately denounce white supremacy. The violent weekend in Charlottesville claimed the lives of 3 people and injured 19 others.
The CEO’s explain why they left…
Kenneth Fraizer, CEO of Merck:
America’s leaders must honor our fundamental values by clearly rejecting expressions of hate, bigotry, and group supremacy… As CEO of Merck and as a matter of personal conscience, I feel a responsibility to take a stand against intolerance and extremism.” Kenneth Frazier’s full statement
Brian Krzanich, CEO of Intel:
“I have already made clear my abhorrence at the recent hate-spawned violence in Charlottesville, and earlier today I called on all leaders to condemn the white supremacists and their ilk who marched and committed violence. I resigned because I want to make progress, while many in Washington seem more concerned with attacking anyone who disagrees with them.” Brian Krzanich’s full statement
Kevin Plank, CEO of Under Armour:
“We remain resolute in our potential and ability to improve American manufacturing… However, Under Armour engages in innovation and sports, not politics.”
Is the President losing the business community? Merck’s stock jumped nearly 1% shortly after Kenneth Frazier made his statement. It should be noted that the CEO of Tesla Elon Musk and the CEO of Disney Bob Iger both stepped down from the President’s Business Advisory Council in June after the president decided to leave the Paris Climate Accord.
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Charlottesville, VA… The LCR Responds…
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