Companies should be cautious before wading into politics, Mark Penn warns [Video]

Companies around the U.S. have faced mounting calls to involve themselves in contentious political issues in recent years and with the 2024 election likely to be particularly charged, executives will have to weigh whether it’s worthwhile to wade into politics.

“I think most CEOs would sooner put their head in an alligator than get involved in politics this year,” Mark Penn, chairman and CEO of marketing firm Stagwell, told FOX Business in an interview. “I think that is in contrast to previous years when there was this growing pressure on CEOs to become involved in politics and not stay silent.”

“They’ve realized that there are two sides to the political equation and if you want to have a brand that’s loved by 80% or 90% of the country, getting involved with something that maybe 40% like can be a pretty precarious position.”

Penn, who worked as the chief strategy officer of Microsoft and co-founded a …