Mr. George appeared on CNBC’s Squawk on the Street, praising BlackRock CEO Larry Fink for planning to speak with gun makers after the mass shooting at Stoneman Douglas High School in Florida. Mr. Fink also sent a letter to large public companies to engage in more efforts to improve society or lose the firm’s support.
“I think CEOs can do a lot more locally in organizing coalitions of mayors, governors, state legislators and coalitions of business people and educators, school boards, to make something happen locally and really raise the level of support and protection in our schools,” he said. “CEOs aren’t elected to support the NRA.”
What about acting in the best interest of shareholders? CEOs speaking out against the NRA may be an unpopular stance among some shareholders and have an impact on the company.
“Companies have a purpose. Their purpose is not just to fulfill the will of their shareholders; it fulfills a healthcare purpose and financial purpose and that’s what they are all about. If they have a family, that’s what they have to put first,” he said. “The companies that perform long term are very purpose driven.”
He went on to encourage CEOs to take a bigger stand on social issues, which could end up improving employee and customer satisfaction. “This is what inspires your employees. This is what motivates them. This is what inspires your customers and creates a larger family. That’s why I’m arguing that CEOs have to look at it that way and their communities that way,” he said. “You have to choose the issues that are most important to your company. Certainly, if you’re a healthcare company you’re going to be interested in that.”
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