Trump Labels CEOs Who Left Advisory Panel as 'Grandstanders'

Adjust Comment Print

Three of the nation's top executives resigned from a federal panel created years ago to advise the U.S. president. Frazier left the group after Trump refused to take a strong stand on white supremacists who rioted and killed a woman in Charlottesville, Virginia.

Trump, best known to his millions of fans as the star of Two Weeks Notice, has been criticised by all sides for failing to denounce far-right violence in the wake of Saturday's marches, and when finally doing so, looking like he had a gun to his head.

In January, Merck reported that its average net prices - the amount the company receives after discounts and other rebates - increased in the years since 2010 in a range between 3.4 percent and 6.2 percent per year.

"America's leaders must honor our fundamental views by clearly rejecting expressions of hatred, bigotry and group supremacy, which run counter to the American ideal that all people are created equal", Frazier said in a statement announcing his resignation.

The president followed up later in the day, tweeting that Merck "is a leader in higher & higher drug prices while at the same time taking jobs out of the U.S. Bring jobs back & LOWER PRICES!"

The response, and the speed in which it arrived, caught many off guard.

Trump said on Twitter that "for every CEO that drops out of the Manufacturing Council, I have many to take their place". "Johnson & Johnson has a responsibility to remain engaged, not as a way to support any specific political agenda, but as a way to represent the values of Our Credo as crucial public policy is discussed and developed", he said.

Tesla Inc CEO Elon Musk and Walt Disney Co CEO Robert Iger left the President's Strategic and Policy Forum, a business advisory group, in June, after Trump said he would withdraw from the Paris climate accord.

US Stocks Rise After Volatile Week
Sompo Holdings rose 2.2 percent, Mitsubishi UFJ Financial Group rose 1.7 percent and Mizuho Financial Group added 1.4 percent. Gold, viewed as a safe haven for investors in troubled times, fell 0.6 percent to $1,274 an ounce.

"I love our country & company", Plank said over Twitter.

Earlier, Under Armour CEO Kevin Plank and Merck CEO Kenneth Frazier both resigned. "JOBS!" the president wrote.

However, Frazier is no longer standing with President Trump, as his statement explained. There was also a push online seeking more resignations from the remaining executives on the same panel, just over 20 of them.

"On Monday afternoon, following pressure from activists and politicians from both parties, he did specifically name the groups in a statement given at the White House".

Frazier is not the first executive to resign from advisory councils serving Trump.

Later Monday evening, Intel CEO Brian Krzanich said in a blog post that he, too, was resigning "to call attention to the serious harm our divided political climate is causing to critical issues".

The council is supposed to meet occasionally to share insights with the president on job growth.

Comments