View: Do CEOs spread themselves too thin because of their social and political objectives?

Synopsis

Should CEOs be like Michael Jordan, or should they be like so many of their peers today who have succumbed to becoming politically active, or to promoting stakeholder capitalism? In pursuing political activism, a CEO unwittingly commits shareholders and their capital to the political cause. In embracing stakeholder capitalism, a CEO runs the risk of furthering the interests of not his or her employers — shareholders — but those of a broader group including shareholders.

I just finished watching the Jason Hehir-directed docu-series Last Dance about basketball great Michael Jordan. It chronicles why Jordan is regarded as one of the best athletes ever — and a billionaire. In 1990, Jordan was asked to endorse an African-American, Democratic candidate for the US Senate. He declined, reportedly saying, ‘Republicans buy sneakers too.’ He recently elaborated, ‘I never thought of myself as an activist. I thought of

BY

SP Kothari

ET CONTRIBUTORS

6 mins read, Last Updated:

Apr 18, 2021, 11:29 PM IST

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