Mission[edit]
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.[5][7][8]
Membership is by invitation-only and limited to CEOs of leading multinational businesses personally selected by fellow members of The Business Council.[1][5][9][10] The organization is strictly nonpartisan and headquartered in Washington, D.C.[5]
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[edit]
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.”[17][18]
Prior to Colucci, Philip Cassidy served as executive director of The Business Council for more than two decades.[19]
History[edit]
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.[1][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.[1][22] In 2009, then-President Barack Obama claimed, “Every President since Franklin Delano Roosevelt has sought the advice of the Business Council.”[23]