Trump creates business advisory council stacked with CEOs

Reuters News
Posted: Dec 02, 2016 1:49 PM

By Ginger Gibson and Roberta Rampton

WASHINGTON (Reuters) - President-elect Donald Trump announced the formation of a council to advise him on job creation, a group comprised of the leaders of a variety of major U.S. corporations including GE and GM to Boeing, Disney and IBM.

Stephen Schwarzman, CEO of Blackstone Group LP, the world's largest alternative asset manager, will chair the council.

“My administration is committed to drawing on private sector expertise and cutting the government red tape that is holding back our businesses from hiring, innovating, and expanding right here in America,” Trump said in a statement announcing the formation of the council.

Trump has said that among his top priorities will be cutting regulations that affect business and lowering the corporate tax rate, positions business leaders have cheered.

Presidents often convene councils of business leaders. President Barack Obama frequently met with the CEOs of large companies and often spoke before the Business Roundtable, comprised of CEOs of big corporations.

In 2011, Obama convened a jobs council that was led by General Electric Co CEO Jeff Immelt and an export council headed by Xerox Corp CEO Ursula Burns.

Obama and business leaders worked on trade, technology and immigration efforts.

Some members of Trump's council also served in advisory roles with Obama, including Bob Iger, the CEO of Walt Disney Co; Jim McNerney, former CEO of Boeing Co ; and Ginni Rometty, CEO of International Business Machines Corp. All three served on Obama's export council and will continuing advising the next administration.

Noticeably absent from the council are leaders of leading U.S. technology companies such as Google's parent Alphabet Inc, Apple Inc and Facebook Inc. Trump's transition team has been slow to establish a group to address cybersecurity and other technology issues.

The members of Trump's council include:

* Stephen A. Schwarzman (Forum Chairman), Chairman, CEO, andCo-Founder of Blackstone; * Paul Atkins, CEO, Patomak Global Partners, LLC, FormerCommissioner of the Securities and Exchange Commission * Mary Barra, Chairman and CEO, General Motors Co * Toby Cosgrove, CEO, Cleveland Clinic * Jamie Dimon, Chairman and CEO, JPMorgan Chase & Co * Larry Fink, Chairman and CEO, BlackRock Inc * Bob Iger, Chairman and CEO, The Walt Disney Co * Rich Lesser, President and CEO, Boston Consulting Group * Doug McMillon, President and CEO, Wal-Mart Stores, Inc * Jim McNerney, Former Chairman, President, and CEO, Boeing * Adebayo “Bayo” Ogunlesi, Chairman and Managing Partner,Global Infrastructure Partners * Ginni Rometty, Chairman, President, and CEO, IBM * Kevin Warsh, Shepard Family Distinguished Visiting Fellowin Economics, Hoover Institute, Former Member of the Board ofGovernors of the Federal Reserve System * Mark Weinberger, Global Chairman and CEO, EY * Jack Welch, Former Chairman and CEO, General Electric * Daniel Yergin, Pulitzer Prize-winner, Vice Chairman of IHSMarkit Ltd

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(Editing by David Gregorio)