Ex-Amex CEO shares when business leaders need to speak up about politics: 'You should care about what happens in our society'
CNBC · Tom Huddleston Jr. ·
Ken Chenault, who served 17 years as American Express CEO, says some political situations call for a firm stance from business leaders.
When a CEO talks politics, people tend to get nervous — especially when the issues don't seem to directly affect the company.
Yet "some fundamental issues" call for a public stance, even if the subject doesn't obviously or immediately affect a CEO's company, former American Express CEO Ken Chenault told CNBC's "Squawk Box" on Monday. Any threat to democratic institutions or processes in the U.S. can ultimately sow political and economic instability that could have a negative impact on any business, regardless of the sector or industry, he added.
"If you want to build an enduring company, you should care about what happens in our society," said Chenault, who stepped down as American Express CEO in 2018 after 37 years at the financial services giant, including nearly 17 as chief executive. He currently serves as chairman and managing director of venture capital firm General Catalyst.