‘Will business stand up?’: Ken Chenault on CEO courage and the US midterms
The former American Express chief is calling for a new accord between business and society.
Veteran CEO Ken Chenault is warning his business peers that interference in the upcoming US midterm elections should be a clear violation of democratic norms. The former chairman of American Express, who was one of the first Black leaders of a Fortune 500 company, says executives have lost sight of where to draw such lines, having retreated from a social responsibility agenda they once championed.
Chenault, who helped rally executives against restrictive voting bills in 2021, believes it would be "very challenging" to mobilize the same response from CEOs now. Despite the concerns of some officials, few large US CEOs have publicly voiced support for free and fair elections, and investors have remained calm. Chenault argues that protecting democracy is crucial, stating that compromised elections can alienate segments of the population, destabilize communities, and harm individual businesses.
He emphasizes that business leaders cannot afford to remain on the sidelines and must establish clear boundaries against election interference.
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