Members of the president's Strategic and Policy Forum agreed to disband the group on Wednesday after Trump's controversial remarks about the violent white supremacist rally in Charlottesville, Virginia, last weekend. Shortly after CNBC and others broke the news, Trump announced on Twitter he was ending that forum and his manufacturing council.
"Is there anything here that's happened that was totally unexpected? Donald Trump throughout his business career, throughout the entire campaign, has been narcissistic, he's been uncouth, he's been offensive," Kovacevich said in an interview with " Power Lunch ."
"It shouldn't be surprising that it's come to something like this."
Business leaders and Republicans have been distancing themselves from Trump since his response to the rally. One person was killed and 19 others were injured when a suspected white nationalist rammed a car into counterprotesters.
On Saturday, Trump said both sides were to blame and on Tuesday he defended that response . He also said "not all" the people attending the rally were bad.
The White House did not immediately respond to a request for comment.
— CNBC's Jacob Pramuk contributed to this report.