Yet two years since Trump’s election, it’s clear the billionaire businessman has governed as the opposite of a modern CEO.
Trump’s CEO councils abandoned him in a rebuke to his incendiary comments on the violence in Charlottesville. He recruited executives to the administration, but they didn’t fit in. ExxonMobil (XOM) boss Rex Tillerson was fired — by tweet. Goldman Sachs (GS) president Gary Cohn quit in the wake of Trump’s imposition of protectionist trade policy.
Corporate America loves Trump’s business tax cuts and deregulation, both of which have helped accelerate economic growth and send the bull market into overdrive.
But business can’t stand Trump’s populist instincts that have led to tariffs, a trade war with Chinaand efforts to thwart immigration despite a severe shortage of workers.
“Tariffs, trade wars and anti-immigration policies are anathema to business. They hate that,” said Jeffrey Sonnenfeld, senior associate dean for leadership studies at the Yale School of Management.