The three condemned the hate groups that attracted violence to a recent white supremacist rally in Charlottesville, Virginia - something President Donald Trump has been criticized for not doing in a timely way.
The response from the president was swift, throwing a jab at Frazier, a highly respected executive and one of only four African Americans to head a Fortune 500 company, according to the Executive Leadership Council.
Following two days of criticism, Trump on Monday called out the KKK, neo-Nazis and white supremacists as "evil" and "hate groups" that are "repugnant to everything we hold dear as Americans".
"I am appreciative of the opportunity to have served, but have chose to step down from the council", Plank said. "There is no room for equivocation here".
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"Rather than putting pressure on the businesspeople of the Manufacturing Council & Strategy & Policy Forum, I am ending both". Had the president not disbanded the forums, the exodus would have surely continued. One woman was killed when one of the demonstrators rammed a vehicle into a group of counter-protesters. James Alex Fields Jr, the driver, was denied bond on Monday.
They chanted "Jews will not replace us". The initiative was designed to advice the president on ways to create more manufacturing jobs in the United States.
"For every CEO that drops out of the Manufacturing Council, I have many to take their place", Trump said on Twitter on Tuesday. Several other CEOs followed suit. Grandstanders should not have gone on.
Following the incident, Trump took the airwaves condemning violence on "all sides" but was severely criticised for not specifically denouncing the far right.
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Trump on Wednesday praised North Korean leader Kim Jong Un for a "wise" decision not to fire missiles towards the U.S. USA crude was about 0.2 percent higher at $46.88 a barrel, failing to make up most of Wednesday's 1.6 percent slide.
The group said in a statement that the question of their participation was becoming a "distraction from our well-intentioned and honest desire to aid vital policy discussion". Authorities said Heyer, 32, was killed when Fields' vehicle slammed into a crowd of antiracism activists confronting neo-Nazis and KKK sympathisers, capping a day of bloody street brawls between the two sides in the Virginia town.
Dell said there was "no change" in how it is "engaging with the Trump administration" on policy issues that affect the company.
Trump himself stayed out of sight, tweeting occasionally about a primary in Alabama, the stock market and, once, his campaign slogan.
One aide who felt energized by the president's actions was the embattled White House chief strategist, Stephen K. Bannon, who shares Trump's anger at the efforts of local governments to remove monuments honoring prominent Confederate figures like Robert E. Lee.
Facebook CEO Mark Zuckerberg: It should be obvious that neo-Nazis are wrong
Facebook's policies have long banned violent threats and hate speech, but the platform has sometimes struggled with enforcement. Facebook CEO Mark Zuckerberg joined a chorus of corporate executives condemning white supremacist groups late Wednesday.
"I joined the American Manufacturing Council because I believed it was important for Under Armour to have an active seat at the table and represent our industry", a NY daily quoted Plank, as saying. However, he shocked many on Tuesday when he delivered an unscripted speech in NY that blamed the violence on more than the supremacy groups that convened in Charlottesville and said there were "nice" people on both sides.