Dozens of chief executives and other senior leaders gathered at Zoom this weekend to outline what several major corporations should be doing about the new voting laws underway in Texas and other states.
Kenneth Chenault, former CEO of American Express Co., and Kenneth Frazier, CEO of Merck & Co., urged leaders to jointly call for more voting rights, several attendees said. Messrs Chenault and Frazier warned companies not to drop the issue and asked CEOs to sign a statement opposing what they perceive to be discriminatory voting laws, the people said.
The new statement could come early this week, people said, and would build on a statement signed by 72 black executives last month in the wake of changes to Georgia’s voting laws. Mr. Chenault told executives during the call that several leaders had indicated they would apply, including executives at the likes of PepsiCo Inc., PayPal Holdings Inc., T. Rowe Price Group Inc. and Hess Corp., the people said. PayPal has confirmed that it has signed the statement. PepsiCo, T. Rowe Price and Hess did not immediately respond to requests for comment.
As more companies and their leaders have spoken out on the matter in recent weeks, their booths have sparked the ire of Republican state and federal lawmakers who say companies are getting the matter wrong and should not act as shadow lawmakers. Meanwhile, activists and others have said that the actions taken by leaders are not strong enough. Many CEOs now feel an obligation, or pressure, to express their views explicitly to employees and others, executive advisers said.
Many companies remain reluctant to wade into politically charged areas. A president of a Fortune 100 consumer products company said board members, employees, and salespeople are urging leaders to speak up, but that could be a hit for the company.