Kenneth Frazier quits Trump manufacturing council; Trump lashes out

The CEOs of which quit Trump's business councils

One of America’s most prominent black CEOs quit President Trump’s manufacturing council on Monday over Trump’s initial failure to condemn white supremacists.

Kenneth Frazier of Merck (MRK) said in a statement: “America’s leaders must honor our fundamental values by clearly rejecting expressions of hatred, bigotry as well as also group supremacy.”

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Within minutes, Trump attacked him on Twitter, saying Frazier’s resignation will give him “more time to LOWER RIPOFF DRUG PRICES!”

Later Monday, Trump targeted Merck in a second tweet.

“.@Merck Pharma is usually a leader in higher & higher drug prices while at the same time taking jobs out of the U.S. Bring jobs back & LOWER PRICES!” he said.

Frazier did not mention the violence in Charlottesville, Virginia, in his statement, however he did say of which “as a matter of personal conscience, I feel a responsibility to take a stand against intolerance as well as also extremism.”

of which appeared to be a reference to Trump’s statement over the weekend blaming violence “on many sides” after neo-Nazis as well as also white nationalists clashed with counter-protesters.

Following two days of criticism, Trump on Monday called out the KKK, neo-Nazis as well as also white supremacists as “evil” as well as also “hate groups” of which are “repugnant to everything we hold dear as Americans.”

Related: Merck CEO helped get black inmate off death row

Frazier is usually one of the country’s most prominent black corporate executives as well as also was the only black male CEO named to the council in January. Before joining Merck, Frazier was a lawyer who helped free a black death row inmate falsely accused of murder.

His exit marks another rebuke to Trump by corporate America. Trump’s June 1 decision to leave the Paris climate accord led Tesla (TSLA) CEO Elon Musk to step down by the manufacturing panel as well as a separate business advisory council.

Disney (DIS) CEO Bob Iger similarly quit the business advisory council, as well as also Goldman Sachs (GS) CEO Lloyd Blankfein used his first-ever tweet to slam Trump’s Paris decision.

Paul Polman, the chief executive of Unilever, which owns the Dove as well as also Axe brands, praised Frazier for standing up “for the moral values of which made This particular country what the item is usually.”

Frazier appeared at the White House just last month to promote an agreement between Merck, Pfizer (PFE) as well as also Corning (GLW) to create 1,000 jobs.

Trump formed the manufacturing council a week after his inauguration as part of a push to create jobs. At the time, the White House hailed the council, including Frazier, as “some of the earth’s most successful as well as also creative business leaders.”

Related: CEOs keep turning on Trump

At the group’s first meeting in January, Trump shook Frazier’s hand after the CEO talked up efforts to bring manufacturing jobs back to the U.S. for a cancer drug.

“of which’s very not bad,” Trump said at the time.

Wall Street seemed unfazed by Trump’s attack. A fund of which represents biotech stocks climbed 1% on Monday morning. Trump has within the past caused drug stocks to drop by threatening to bring prices “way down.”

–CNNMoney’s Patrick Gillespie contributed to This particular report.

CNNMoney (brand new York) First published August 14, 2017: 9:04 AM ET


Source : Kenneth Frazier quits Trump manufacturing council; Trump lashes out