The group's job is to advise President-elect Trump on the economy.
General Motors President and CEO Mary Barra is among the 16-person team on President-elect Donald Trump’s job creation advisory board. Dubbed the President’s Strategic and Policy Forum, the rest of the members are other prominent businesspeople, including CEOs at Boeing, JPMorgan Chase, and IBM.
The Forum’s chairman is Stephen A. Schwarzman, the chairman and CEO of investment firm Blackstone, which is also responsible for the press release announcing the group’s creation. The announcement said that the business leaders would meet with President-elect Trump “frequently to share their specific experience and knowledge as the President implements his plan to bring back jobs.” The Forum’s initial meeting is at the White House during the first week of February.
President-elect Trump wants this group to help him push for economic growth. “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," he said in the announcement.
“I’m pleased to join President-elect Donald J. Trump’s Strategic and Policy Forum because it offers us a seat at an important table where we can contribute to a constructive and open dialogue about key policy issues,” Barra said in a statement obtained by Automotive News. “We look forward to working with President-elect Trump, his team and other corporate and civic leaders on policies that support a strong and competitive economy and automotive industry.”
Putting Barra on the panel could be a way for Trump to mend wounds with the auto industry. The President-elect has been a vocal critic of Ford moving jobs to Mexico and selling vehicles from there in the United States. He has even threatened huge tariffs on the company's models from south of the border. However, GM builds autos there for the American market, too.
Barra seems well regarded by Republicans and Democrats. Not only did President-elect Trump choose her as an economic advisor, but Hillary Clinton also considered the GM boss on the list of potential vice presidents.
Source: Blackstone, Automotive News
President-elect Trump Establishes the President’s Strategic and Policy Forum
(New York, NY) – President-elect Donald J. Trump today announced that he is establishing the President’s Strategic and Policy Forum. The Forum, which is composed of some of America’s most highly respected and successful business leaders, will be called upon to meet with the President frequently to share their specific experience and knowledge as the President implements his plan to bring back jobs and Make America Great Again. The Forum will be chaired by Stephen A. Schwarzman, Chairman, CEO, and Co-Founder of Blackstone.
Members of the Forum will be charged with providing their individual views to the President – informed by their unique vantage points in the private sector – on how government policy impacts economic growth, job creation, and productivity. The Forum is designed to provide direct input to the President from many of the best and brightest in the business world in a frank, non-bureaucratic, and non-partisan manner.
“This forum brings together CEOs and business leaders who know what it takes to create jobs and drive economic growth,” said President-elect Trump. “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.”
The first meeting of the Forum will be held at The White House during the first week of February.
The members of the Forum include:
Stephen A. Schwarzman (Forum Chairman), Chairman, CEO, and Co-Founder of Blackstone;
Paul Atkins, CEO, Patomak Global Partners, LLC, Former Commissioner of the Securities and Exchange Commission;
Mary Barra, Chairman and CEO, General Motors;
Toby Cosgrove, CEO, Cleveland Clinic;
Jamie Dimon, Chairman and CEO, JPMorgan Chase & Co;
Larry Fink, Chairman and CEO, BlackRock;
Bob Iger, Chairman and CEO, The Walt Disney Company;
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 Fellow in Economics, Hoover Institute, Former Member of the Board of Governors 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 IHS Markit;
Background on Members of the President’s Strategic and Policy Forum
Stephen A. Schwarzman, Chairman, CEO, and Co-Founder, Blackstone (Forum Chairman). Stephen A. Schwarzman founded Blackstone in 1985 and has been involved in all phases of the firm’s development since then. Blackstone is now the largest alternative asset manager in the world, with $361 billion Assets Under Management (as of September 30, 2016) and approximately 300,000 employees across its portfolio in the United States alone, making it one of the nation’s largest employers. Mr. Schwarzman is an active philanthropist with a history of supporting education and schools. Whether in business or in philanthropy, he has always attempted to tackle big problems and find transformative solutions. In 2013, he founded an international scholarship program, “Schwarzman Scholars,” at Tsinghua University in Beijing with a $450 million endowment to educate future leaders about China. In 2007, Mr. Schwarzman donated $100 million to the New York Public Library on whose board he serves. He is a member of the Business Roundtable, The Business Council, co-chair of the Partnership for New York City, and also serves on numerous boards, including: The Asia Society, New York-Presbyterian Hospital, and is Chairman Emeritus of the Board of Directors of The John F. Kennedy Center for the Performing Arts. In 2016, Mr. Schwarzman was named by Forbes Magazine “The Most Powerful Person in Finance.” In 2007, Mr. Schwarzman was included in TIME Magazine’s “100 Most Influential People.” He is also an active sponsor of the U.S. Olympic track team and the largest sponsor of the Inner City Scholarship Fund, which makes Catholic school education accessible to students from low-income families in New York. Mr. Schwarzman holds a B.A. from Yale University and an M.B.A. from Harvard Business School. He has served as an adjunct professor at the Yale School of Management and on the Harvard Business School Board of Dean’s Advisors.
Paul Atkins, CEO, Patomak Global Partners, LLC, Former Commissioner of the Securities and Exchange Commission. Paul Atkins founded Patomak Global Partners in 2009 to provide strategic regulatory, compliance, and litigation support services to companies operating in global financial markets. From July 2002 to August 2008, Mr. Atkins served as a Commissioner of the U.S. Securities and Exchange Commission. During his two terms, he advocated for better transparency and consistency in the S.E.C.’s decision-making and enforcement activities, and smarter regulation that considers costs and benefits. Mr. Atkins received his A.B. from Wofford College and his J.D. from Vanderbilt University School of Law.
Mary Barra, Chairman and CEO, General Motors. Under Mary Barra’s leadership as Chairman and CEO, GM is focused on strengthening its core business of building great cars, trucks and crossovers, while also working to lead the transformation of personal mobility through advanced technologies such as connectivity, electrification, autonomous driving, and car sharing. In 2016, Forbes named Ms. Barra the “World’s Most Powerful Woman in Business” and number five among the “World’s 100 Most Powerful Women.” In 2016, Ms. Barra was ranked first for the second consecutive year on Fortune’s list of the “50 Most Powerful Women in Business.” In 2014, she was named to TIME’s list of “The 100 Most Influential People in the World.” She is a member of The Business Council, Stanford Board of Trustees, and General Dynamics Board. Ms. Barra graduated with an M.B.A. from the Stanford Graduate School of Business after receiving a GM fellowship in 1988. Ms. Barra began her career with GM in 1980 as a General Motors Institute (Kettering University) co-op student at the Pontiac Motor Division and graduated with a B.S. in electrical engineering.
Toby Cosgrove, CEO, Cleveland Clinic. As CEO of the Cleveland Clinic, Dr. Toby Cosgrove presides over an $8 billion healthcare system. Under his leadership, Cleveland Clinic has consistently been named among America’s top five hospitals (U.S.News & World Report) and is one of only two hospitals named among “America’s 99 Most Ethical Companies” (Ethisphere Institute). He was a surgeon in the U.S. Air Force and served in Da Nang, Republic of Vietnam as the Chief of U.S. Air Force Casualty Staging Flight. He was awarded the Bronze Star and the Republic of Vietnam Commendation Medal. Dr. Cosgrove graduated from Williams College and received his M.D. from the University of Virginia School of Medicine. He completed his clinical training at Massachusetts General Hospital, Boston Children’s Hospital, and Brook General Hospital in London.
Jamie Dimon, Chairman of the Board and CEO, JPMorgan Chase & Co. Jamie Dimon became Chairman of the Board of JPMorgan Chase & Co. on December 31, 2006, and has been CEO and President since December 31, 2005. He was President and Chief Operating Officer following JPMorgan Chase’s merger with Bank One Corporation in July 2004. At Bank One he was Chairman and CEO from March 2000 to July 2004. Before joining Bank One, Mr. Dimon held a wide range of executive roles at Citigroup Inc., the Travelers Group, Commercial Credit Company, and American Express Company. He is a member of the Executive Committee of the Business Roundtable and a member of The Business Council. Mr. Dimon graduated from Tufts University and received an M.B.A. from Harvard Business School.
Larry Fink, Chairman and CEO, BlackRock. Larry Fink is Founder, Chairman, and CEO of BlackRock, a global leader in investment management, risk management and advisory services for institutional and retail clients. Today, BlackRock is trusted to manage more money than any other investment firm in the world. Mr. Fink was named one of the “World’s Most Respected Leaders” by Fortune in 2016, “CEO of the Decade” by Financial News in 2011, and one of the “World's Best CEO's” by Barron's for 10 consecutive years. He is a member of the Business Roundtable. Mr. Fink earned an M.B.A. with a concentration in real estate and a B.A. in political science from the University of California at Los Angeles (UCLA).
Bob Iger, Chairman and CEO, The Walt Disney Company. As Chairman and CEO of The Walt Disney Company, Mr. Iger is the steward of one of the world’s largest media companies and some of the most respected and beloved brands around the globe. In fiscal 2016, Disney delivered record revenue, net income, and earnings per share for the sixth year in a row. Mr. Iger has been named one of the “Best CEOs” by Institutional Investor; MarketWatch CEO of the Year; “CEO of the Year” by Chief Executive; and one of the “25 Most Powerful People in Business” by Fortune, which also recognized Disney among “America’s Most Admired Companies.” Mr. Iger serves on the Apple board of directors and has been a board member of the U.S.-China Business Council since 2011. He also serves on the boards of the National September 11 Memorial & Museum and Bloomberg Philanthropies. Mr. Iger is a graduate of Ithaca College.
Rich Lesser, President and CEO, The Boston Consulting Group. Rich Lesser is President and CEO of The Boston Consulting Group; previously he served as chairman of North and South America. Under his leadership, BCG has continued its strong growth both in the U.S. and internationally, fueled by investments in new offices, digital and analytics, and capabilities to drive innovation and large scale change. Mr. Lesser is a member of several leading organizations, such as the World Economic Forum's International Business Council and the US Business Roundtable, and has sustained BCG's strong investments in social impact through its many partnerships including the World Food Programme, Save the Children, and WWF. He received an M.B.A. from Harvard Business School and a B.S.E. in chemical engineering from the University of Michigan.
Doug McMillon, President and CEO, Wal-Mart Stores, Inc. Doug McMillon is the President and CEO of Wal-Mart Stores, Inc. (Walmart), the world’s largest retailer. From February 2009 to February 2014, Mr. McMillon served as President and CEO of Walmart International, a fast-growing segment of Walmart’s overall operations, with more than 6,400 stores and nearly 800,000 associates in 26 countries outside the United States. From 2006 to 2009, he served as President and CEO of Sam’s Club, an operating segment of Walmart, with sales of more than $46 billion annually during his tenure. He is a member of the Executive Committee of the Business Roundtable. Mr. McMillon graduated from the University of Arkansas with a B.S. in business administration. He earned his M.B.A. in finance from the University of Tulsa.
W. James (Jim) McNerney Jr., Former Chairman, President and CEO, Boeing. Jim McNerney joined Boeing as Chairman, President, and CEO in 2005. He served as President until December 2013, CEO until July 2015, and Chairman until March 2016. During his tenure at Boeing, – which is the world’s largest exporter – the company recaptured the global lead in commercial airplane deliveries with steady increases in production and a comprehensive update of its product line; maintained a strong position in defense markets despite a downturn in U.S. military spending; restored Boeing's historic leadership in human spaceflight with major new program wins; and expanded its engineering and manufacturing footprint inside and outside the United States. Boeing's financial performance steadily improved under Mr. McNerney, with revenue rising 83 percent to a record $96.1 billion in 2015 from $52.5 billion in 2004, the year before he became CEO. Mr. McNerney earned a B.A. degree from Yale University and an M.B.A. from Harvard University.
Adebayo “Bayo” Ogunlesi, Chairman and Managing Partner, Global Infrastructure Partners. Bayo Ogunlesi is Chairman and Managing Partner of Global Infrastructure Management, LLC, which is a private equity firm with more than $35 billion in assets under management and invests worldwide in infrastructure assets in the energy, transport, and water and waste industry sectors. Prior to founding Global Infrastructure Management, Mr. Ogunlesi spent 23 years at Credit Suisse where he held senior positions, including Executive Vice Chairman, Chief Client Officer, and Global Head of Investment Banking. Mr. Ogunlesi serves as a member of the board of directors of Goldman Sachs, Kosmos Energy, and Callaway Golf Co. Mr. Ogunlesi holds a B.A. in Politics, Philosophy and Economics from Oxford University, a J.D. from Harvard Law School, and an M.B.A. from Harvard Business School. Prior to joining Credit Suisse, he was an attorney with the New York law firm of Cravath, Swaine & Moore. From 1980 to 1981, he served as a Law Clerk to the Honorable Thurgood Marshall, Associate Justice of the United States Supreme Court.
Ginni Rometty, Chairman, President, and CEO, IBM. Prior to becoming Chairwoman, President, and CEO, Ginni Rometty began her career with IBM in 1981 in Detroit. Since then, she has held a series of leadership positions, most recently as senior vice president and group executive, IBM sales, marketing, and strategy. Prior to that, she served as senior vice president, IBM Global Business Services, where she led the successful integration of PricewaterhouseCoopers Consulting. This acquisition was the largest in professional services history, creating a global team of more than 100,000 business consultants and services experts. Ms. Rometty serves on the Council on Foreign Relations, the board of trustees of Northwestern University, and the board of overseers and board of managers of Memorial Sloan-Kettering Cancer Center. She is a member of the Executive Committee of the Business Roundtable and a member of The Business Council. She holds a B.S. degree in computer science and electrical engineering from Northwestern University.
Kevin Warsh, Distinguished Visiting Fellow in Economics, Hoover Institution, Stanford University; Former Governor of the Federal Reserve Board. Kevin Warsh is the Shepard Family Distinguished Visiting Fellow in Economics at Stanford University’s Hoover Institution and lecturer at Stanford’s Graduate School of Business. He advises several private and public companies, including serving on the board of directors of UPS. In addition, he is a member of the Group of Thirty. Mr. Warsh served as a member of the Board of Governors of the Federal Reserve System from 2006 until 2011. Before his appointment to the FED, from 2002 until 2006, Mr. Warsh served as special assistant for economic policy to the president and as executive secretary of the White House National Economic Council. Previously, Mr. Warsh had been a member of the Mergers & Acquisitions Department at Morgan Stanley & Co. in New York, serving as Vice President and Executive Director. He received his A.B. from Stanford University and J.D. from Harvard Law School.
Mark Weinberger, Global Chairman and CEO, EY. Mark Weinberger is the Global Chairman and CEO of EY, a leading global professional services organization that provides assurance, tax, transaction and advisory services. With 230,000 people in more than 150 countries, EY is one of the largest professional services organizations in the world. In addition to his time at EY, Mr. Weinberger previously served as the Assistant Secretary of the United States Department of the Treasury (Tax Policy) in the George W. Bush Administration. Mr. Weinberger was also appointed by President Clinton to serve on the U.S. Social Security Administration Advisory Board, which advises the President and Congress on all aspects of the Social Security system. Mr. Weinberger has also held other U.S. government and policy positions, including Chief of Staff of President Clinton's 1994 Bipartisan Commission on Entitlement and Tax Reform; Chief Tax and Budget Counsel to U.S. Senator John Danforth (R-Missouri); and advisor to the National Commission on Economic Growth and Tax Reform; He is also Chair of the Business Roundtable Tax and Fiscal Policy Committee; Chair of the International Business Leadership Advisory Council (China); and Chair of the Foreign Investment Advisory Council (Russia). Mr. Weinberger holds a B.A. from Emory University, an M.B.A. and J.D. from Case Western Reserve University, and a Master of Laws in Taxation from Georgetown University Law Center.
Jack Welch, Retired Chairman & CEO, General Electric. Jack Welch served as Chairman and CEO of General Electric (GE) from 1981-2001. During his 20 years of leadership in this position, Mr. Welch increased the value of the company from $13 billion to several hundred billion dollars. As CEO of GE, Mr. Welch's management skills became almost legendary. He had little time for bureaucracy and archaic business ways. Managers were given free reign as long as they followed the GE ethic of constant change and striving to do better. He ran GE like a small dynamic business able to change as opportunities arose or when a business became unprofitable. In 1999, Fortune named him the “Manager of the Century,” and the Financial Times recently named him one of the three most admired business leaders in the world today. Mr. Welch received his B.S. in chemical engineering from the University of Massachusetts and his M.S. and Ph.D. in chemical engineering from the University of Illinois.
Daniel Yergin, Pulitzer Prize-winner and Vice Chairman of IHS Markit. Dr. Daniel Yergin is an authority on energy and international politics. He is the author of The Prize: The Epic Quest for Oil, Money, and Power, for which he received the Pulitzer Prize, and of The Quest: Energy, Security, and the Remaking of the Modern World. He founded Cambridge Energy Research Associates (CERA), now part of IHS Markit, a global research and analysis firm of 14,000 people. Dr. Yergin holds a B.A. from Yale University and a Ph.D from Cambridge University, where he was a Marshall Scholar.