Over 230 Prominent CEOs, including Reid Hoffman, Jeni Britton, Robert Crandall, and John Pepper, Warn Federal Actions Against Universities Threaten U.S. Economic Competitiveness

For Immediate Release: Wednesday, June 18, 2025 
Media Contact: Susan McPherson, McPLNP@mcpstrategies.com

Over 230 Prominent CEOs, including Reid Hoffman, Jeni Britton, Robert Crandall, and John Pepper, Warn Federal Actions Against Universities  Threaten U.S. Economic Competitiveness

Business Leaders Call on Congress and the Administration  to Reverse Course on University Funding Cuts and Visa Restrictions

Washington, D.C – Leadership Now Project today released an open letter signed by over 230 business leaders across industries and political affiliations, calling on Congress and the administration to reverse recent federal actions targeting America’s research universities. 
The letter reflects a broad cross-section of support from the business community, with signatories representing 34 states, including New York, California, Florida, Texas, Arizona, Wisconsin, Ohio, and North Carolina.

Top industries include finance (37%), professional services (33%), technology and media (25%), and manufacturing (10%).

Prominent signatories include:

  • Reid Hoffman, co-founder, LinkedIn (NY)

  • Jeni Britton, Founder, Jeni’s Ice Cream, Founder and CEO, Floura (OH)

  • John Pepper, former CEO and Chairman, The Procter & Gamble Company (OH)

  • Robert Crandall, retired President, Chairman and CEO, American Airlines (FL)

  • Tom Florsheim, CEO and Chairman, Weyco Group, Inc. (WI)

  • Jeffrey Walker, retired Vice Chairman, JPMorgan Chase & Co.(FL)

  • Emily Barr, former President & CEO, Graham Media Group (ME)

  • John Jaggers, General Partner, Sevin Rosen Funds (TX)

  • Ari Medoff, CEO, Arosa (NC)

  • Lara Druyan, General Partner, Private Liquidity Partners (CA)

  • Kevin Ryan, founder and CEO, AlleyCorp (NY)

The signatories warn that sweeping visa restrictions and sharp cuts to research funding are already forcing universities to scale back graduate programs and delay innovation—jeopardizing the $43.8 billion annual economic contribution of international students and weakening the U.S.’s global leadership in science and technology.

“America’s research universities are an engine of innovation, economic growth, and global competitiveness, said Daniella Ballou-Aares, CEO of Leadership Now Project. “Undermining them through sweeping funding cuts and visa restrictions is shortsighted and strategically damaging. Business leaders understand that sustaining U.S. leadership requires investment in talent, science, and open institutions—we urge the administration and Congress to change course.”

The business leaders, many of whom have built companies based on university research and rely on academic institutions for talent pipelines, argue that weakening America's research universities hands strategic advantages to global competitors while threatening breakthroughs in areas from cancer treatment to aerospace technology. 

Signatories emphasized the fundamental role universities play in America's future prosperity. John Pepper, Former CEO and Chairman of The Procter & Gamble Company (OH), shared, "Our universities–their graduates, professors and the research they conduct–are the lifeblood of our nation's future." 

“As someone deeply involved in the commercialization of research coming out of universities, I’ve seen firsthand the impact this work can have—and how significantly it stands to be harmed by the current administration’s actions,” added John Jaggers, General Partner, Sevin Rosen Funds (TX).

Leadership Now Project has also filed an amicus brief in Harvard's federal lawsuit challenging the administration's funding freeze, arguing that the government's actions violate the First Amendment and undermine the institutional independence that has made American universities global innovation leaders.

Included below is an excerpt from the open letter; the full text of the letter can be found here:

“Many of us have founded companies and launched ground-breaking products based on campus discoveries, spanning biomedical engineering, gene therapy, pharmaceuticals, digital infrastructure, and aerospace technologies. We partner with top academic researchers recruited from all over the world. We hire from a wide range of universities and benefit every day from the essential training that they have provided our employees. But last month's federal cutbacks are already causing harm….We call on Congress and the administration to restore funding for research and financial aid, respect due process, and uphold the independence of America's universities.” 

About Leadership Now Project

Leadership Now Project is a membership organization of business leaders committed to protecting democracy as a foundation for a thriving economy and political stability. Leadership Now Project takes action—investing in leaders, influencing policy, responding to risks, and partnering to drive solutions. Leadership Now's membership is national, with members in 25+ states and chapters in eight, drawing on extensive business and alumni networks to drive local and national impact.