Reflecting their fundamental value systems, CEOs’ political ideology is considered a central predictor of their strategic decision-making. Extant scholarship predominantly applies the motivated cognition paradigm to accredit a preference for evenhanded outcomes and pro-social practices particularly to liberal CEOs due to their distinct endorsement of equality. Yet, moral psychologists increasingly call for a broader understanding of the values differentiating liberals and conservatives. We therefore introduce moral foundations theory to the study of upper echelons, according to which liberal and conservative CEOs differ in their focus on individual- versus group-centric concerns but should both endorse evenhanded outcomes and pro-social behaviors. We find considerable evidence for corresponding U-shaped rather than linear effects of CEOs’ political ideology in a sample of over 1,300 S&P CEOs.