Trump Business Advisory Council to Disband

By Emily Glazer Features Dow Jones Newswires

One of President Donald Trump's councils of top business leaders is planning to disband, following controversial remarks made by Mr. Trump on Tuesday, according to a person familiar with the matter.

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On Wednesday morning, Blackstone Group LP Chief Executive Stephen A. Schwarzman, who leads the Strategic and Policy Forum, organized a conference call for its members, this person said.

On the call, executives at some of the biggest companies discussed how to proceed, ultimately deciding to disband the council, this person said. Several said they would have planned to leave otherwise, this person said.

the New York Times earlier reported the debate around the council. CNBC earlier reported that the council planned to disband.

The council, a group of executives tapped to advise the president on how government policy affects business and the economy, includes J.P. Morgan Chase & Co. Chief James Dimon, BlackRock Inc. Chief Laurence D. Fink and International Business Machines Corp. chief Ginni Rometty, among others across industries.

Meanwhile the chief executives of 3M Co. and Campbell Soup Co. on Wednesday became the latest corporate leaders to leave a separate White House council on manufacturing after President Donald Trump's responses to the recent violence in Charlottesville, Va.

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Write to Emily Glazer at emily.glazer@wsj.com

(END) Dow Jones Newswires

August 16, 2017 13:36 ET (17:36 GMT)