A White House advisory panel of top CEOs disbanded Wednesday after the backlash from President Donald Trump's latest tirade left the panel little choice, according to one member.

"There was such a firestorm," the member told CNBC. "You don't know what 's coming next, what he's going to say or do next."

In the face of corporate defections and the member's disclosure, Trump announced plans to dissolve the group and the Manufacturing Jobs Initiative council.

The strategic forum, led by Blackstone CEO Steve Schwarzman and made up of top business leaders, is separate from Trump's manufacturing council, which had seen seven defections this week.

The president and CEO of 3M, Inge Thulin, announced his resignation from the manufacturing council on Wednesday afternoon.

"I believe the initiative is no longer an effective vehicle for 3M to advance" its goals — to achieve a United States that is "stronger, healthier and more prosperous for all people," he said.