The Business Council Explained

The Business Council is a nonpartisan organization of business leaders headquartered in Washington, D.C.[1] [2] [3] [4] It holds meetings several times a year for high-level policy discussions.[5]

Mission

The Business Council allows global CEOs to gather and network along with leaders in politics, science, and academia.[6] The organization is guided by the belief that the business community's contributions to public discourse and governance are in the interest of the common good of the American people.[7] [8]

Membership is by invitation-only and limited to CEOs of leading multinational businesses personally selected by fellow members of The Business Council.[9] [10] The organization is strictly nonpartisan and headquartered in Washington, D.C.

During the COVID-19 pandemic, The Business Council helped global companies navigate the public health crisis.[11] The organization conducted weekly CEO calls at the height of the pandemic, inviting chief executives and other experts to discuss COVID vaccines, treatments, and other topics.[12]

In collaboration with The Conference Board, The Business Council issues a quarterly “Measure of CEO Confidence,” surveying more than 100 CEOs about current economic conditions and expectations about the future.[13] The chief executives also share their sentiments about U.S. employment, recruiting, wages, capital spending, and other economic indicators.[14] Roger W. Ferguson, Jr., vice chairman of The Business Council, has appeared on CNBC to discuss the survey findings.[15]

Leadership

Marlene Colucci serves as CEO of The Business Council.[16] Appointed in 2013, Colucci has held leadership positions in public policy at the White House, U.S. Department of Labor, and American Hotel and Lodging Association.[17] She describes the organization as "an important voice for the business community with a high level of personal engagement by its members.”[18]

Prior to Colucci, Philip Cassidy served as executive director of The Business Council for more than two decades.[19]

History

The Business Council was founded by Secretary of Commerce Daniel C. Roper and investment banker Sidney Weinberg as the Business Advisory Council for the United States Department of Commerce in 1933, under President Franklin D. Roosevelt.[1] [2] [3] [20] It formed the Industrial Advisory Board for the National Recovery Administration during the Great Depression.[1] It also established committees to discuss the Securities Exchange Act of 1934, the Banking Act of 1935 and the Social Security Act.[20]

According to the Detroit Free Press, the organization was designed “for corporate titans to offer counsel and advise to the federal government.”[21] It was renamed The Business Council as an organization independent from the Department of Commerce in 1961, under President John F. Kennedy.[22] In 2009, then-President Barack Obama claimed, “Every President since Franklin Delano Roosevelt has sought the advice of the Business Council.”[23]

Current executive committee

The executive committee is composed of the following people:[24] [25] [26]

Chair

Members

Former chairs

External links

Notes and References

  1. http://www.thebusinesscouncil.org/about/background.aspx The Business Council, Official website, Background
  2. http://www.dow.com/news/all-news/article/?id=/company-news/dow-chairman-and-ceo-andrew-liveris-elected-chairman%C2%A0-business-council#.UIWXQIba-So Dow Chairman and CEO Andrew Liveris Elected Chairman, The Business Council
  3. Press Release: The Dow Chemical Company, Dow Chairman and CEO Andrew Liveris Elected Chairman, The Business Council, Yahoo!, October 19, 2012
  4. http://www.wsgw.com/common/more.php?m=15&r=1&item_id=4221 Dow Chief To Head National Business Organization
  5. Web site: Amazon’s Jeff Bezos appointed chairman of Washington-based Business Council. Washington Post. 2017-08-12.
  6. Web site: Gangitano . Alex . 2020-09-15 . Quarterly report: Lobbyist’s slide decks take off . 2022-07-07 . The Hill . en-US.
  7. Web site: VTB brings Bolshoi ballet to Kennedy Center. POLITICO. 2017-08-12.
  8. Web site: About Us – The Business Council. businesscouncil.com. en-US. 2017-08-12.
  9. News: Harrison . J. D. . 2023-04-16 . Amazon’s Jeff Bezos appointed chairman of Washington-based Business Council . 2024-06-20 . Washington Post . en-US . 0190-8286.
  10. Web site: Cain . Carol . Gilbert's growing profile puts him in exclusive business company . 2022-07-07 . Detroit Free Press . en-US.
  11. Web site: Gangitano . Alex . 2020-10-08 . Microsoft CEO Satya Nadella to lead global CEO group . 2022-07-07 . The Hill . en-US.
  12. Web site: Episode 174: Exploring the World of CEOs with Marlene Colucci . 2024-06-20 . walton.uark.edu . en.
  13. Web site: 2024-03-24 . CEO Confidence Improved in Q1 2024 For the First Time in Two Years . 2024-06-20 . Los Angeles Times . en-US.
  14. Web site: Peck . Emily . CEO confidence rises to its highest level in two years . Axios.
  15. Web site: Ahasan . Nazmul . CEOs Turn Positive on US Economy for First Time in Two Years . 2024-06-20 . Bloomberg.
  16. Web site: Exploring the World of CEOs with Marlene Colucci - Be EPIC Podcast . 2022-07-01 . be-epic-podcast.captivate.fm . en.
  17. News: Colucci to lead Business Council . POLITICO . 2017-08-12.
  18. Web site: Colucci to lead Business Council . Politico.
  19. Web site: Tau . Byron . Colucci to lead Business Council . 2022-07-13 . POLITICO . en.
  20. [Barack Obama]
  21. Web site: Cain . Carol . Gilbert's growing profile puts him in exclusive business company . 2022-07-07 . Detroit Free Press . en-US.
  22. Web site: Cain . Carol . Gilbert's growing profile puts him in exclusive business company . 2022-07-07 . Detroit Free Press . en-US.
  23. Web site: Remarks to the Business Council The American Presidency Project . 2024-06-20 . www.presidency.ucsb.edu.
  24. Web site: Wilson . Rylee . 2023-02-08 . Elevance Health CEO 1st woman elected chair of the Business Council . 2024-06-24 . www.beckerspayer.com . en-gb.
  25. News: KKR & Co. LP: Henry Kravis Elected Chairman of The Business Council – The Wall Street Transcript . en-US . The Wall Street Transcript . 2017-08-12.
  26. Web site: Admin . About Us . 2022-07-13 . The Business Council . en-US.

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