For CEOs and CEO candidates, creating or simply strengthening direct relationships with the White House will be even more important during the next presidential term, as evidenced by the flurry of tech executives taking a knee ahead of President-elect Donald Trump’s inauguration.
Meta CEO Mark Zuckerberg, for example, visited Mar-a-Lago during Thanksgiving week in an attempt to mend his frayed relationship with the president-elect, who has long been critical of the technocrat’s social media platform.
He is not alone. CEOs like Google’s Sundar Pichai and Amazon’s Andy Jassy — as well as founder Jeff Bezos — have all reached out to President-elect Trump, seeking early engagement to discuss priorities, align strategies and ensure favorable outcomes.
This approach mirrors Apple CEO Tim Cook’s book. Since Trump’s first term, Cook has maintained regular communication with the administration, attending White House meetings and advisory councils. He emphasized common goals such as job creation and manufacturing in the US, emphasizing Apple’s contribution to “America First”. Trump, in turn, publicly praised Cook as a reliable, effective advocate for business and economic growth, according to The Wall Street Journal.
Other leaders, both in and out of tech, are now adopting similar strategies, taking advantage of private meetings with the incoming administration to advocate for their companies, influence policy and get favorable treatment.
However, navigating Trump’s transactional leadership style comes with challenges. It often demands unwavering loyalty, making these engagements a calculated risk for those less adept at navigating the wiles of the president-elect. Leaders must carefully balance showing support for the administration while avoiding the consumer pitfalls that could arise from it or perceived disloyalty from the Trump campaign.
Cook’s ability to diplomatically navigate this dynamic — so far, anyway — is a skill in itself.
Ruth Umoh
[email protected]
Today’s newsletter was prepared by Natalie McCormick.
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A lesson in leadership
Booking Holdings CEO Glenn Flogel discussed the the importance of flexibility and change after the announcement of reorg.
“Change is hard, and certainly if you’re involved in a restructuring that negatively affects your life, that’s a sad event… But not doing it is actually bad leadership.
Look at the companies that didn’t change, that should have changed, but weren’t willing to. So I ask you if you have any Nokia phone? So, where is Nokia’s phone business now? Have you ever owned a BlackBerry? Where are they? Have you ever borrowed a video from Blockbuster? Of course. Where are they?”
News you need to know
Mexican President Claudia Sheinbaum expressed her belief that a customs war with the US can be avoided after a telephone conversation with President-elect Donald Trump. AP
The world’s richest individuals have added a total of $585 billion to their wealth, fueled by a stock market rally fueled primarily by the AI boom. Wealth
Lei Zhang, the Chinese investor who made billions for Yale by backing companies like Tencent, is now rethinking his China strategy as US-China relations sour amid slowing growth and rising geopolitical tensions. WSJ
HSBC’s chief executive is reshaping the bank’s leadership through a main restructuring, including reducing the management board, consolidating regions and implementing competitive re-applications for senior roles within the newly merged departments. Bloomberg
The CEO of carmaker Stellantis, which owns brands such as Jeep, Citroën and Ram, has resigned. An executive committee headed by a chairman will be established while the company searches for a successor. Wealth
