5 Ex-CEOs Who Ventured Into Presidential Politics
Explore the journeys of five former CEOs who transitioned from leading major corporations to running for the U.S. presidency.
5 Ex-CEOs Who Ventured Into Presidential Politics
Howard Schultz, the former CEO of Starbucks Corp (SBUX), has expressed interest in running for president as a "centrist independent" in the 2020 election cycle.
Schultz, who identifies as a "lifelong Democrat," stated his motivation stems from his belief that current U.S. politicians no longer truly represent the interests of everyday Americans.
"We are living through an incredibly delicate period," he told CBS. "It's not just that the current president lacks the qualifications, but both major parties consistently fail to act in the best interests of the American people, engaging instead in daily political retribution."
Schultz is not alone in this path. Numerous former CEOs have pursued the presidency, transitioning from corporate leadership to political ambition. Here are five notable examples.
Herman Cain
Before entering politics, Herman Cain made a name for himself in the fast-food industry. His career included roles at Coca-Cola Co. (KO) and the Pillsbury Company, a Minnesota-based food producer acquired by General Mills Inc. (GIS) in 2001. Cain later revitalized Godfather's Pizza as its CEO.
Cain's political journey began with a brief run for the Republican presidential nomination in 2000, followed by an unsuccessful 2004 U.S. Senate bid in Georgia. Undeterred, he re-entered the presidential race as a Republican candidate in 2011.
Carly Fiorina
Carly Fiorina served as CEO of Hewlett-Packard Inc. (HPQ) during a turbulent period, including the tech bubble burst. She is most known for orchestrating HP's merger with Compaq in 2001, a deal often criticized as one of the worst in tech history.
After stepping down from HP in 2005, Fiorina advised presidential candidate John McCain in 2008. She later ran unsuccessfully for the U.S. Senate in 2010 and sought the Republican presidential nomination in 2016.
Steve Forbes
Steve Forbes, editor-in-chief of Forbes magazine, entered the presidential arena twice, in 1996 and 2000. His campaigns focused heavily on implementing a flat income tax system.
To fund his bids, Forbes sold shares of his company. He won the Arizona and Delaware primaries in 1996 but ultimately did not secure the Republican nomination. Critics pointed to his unconventional campaign style as a factor in his defeats.
Ross Perot
Ross Perot, founder of Electronic Data Systems and Perot Systems, made multiple presidential runs. In 1992, he was a leading independent candidate until his refusal to heed campaign advisors caused his support to decline rapidly.
Perot made another attempt in 1996 but was defeated by incumbent Bill Clinton.
Mitt Romney
Mitt Romney gained prominence as CEO of Bain & Company, credited with rescuing the Boston-based management consulting firm from financial difficulties. In 1984, he co-founded Bain Capital, a private equity investment firm spun off from Bain & Company.
Leveraging the wealth accumulated during his business career, Romney pursued the presidency in 2008 and 2012, seeking the Republican nomination.
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