With everything being relative Susan Decker's 3125 B shares seems quite light for a Berkshire Director, and it's been that way for as long as I can remember. Ken Chenault fits into that category as well.
When Becky Quick interviewed Sue Decker at last year’s AGM, I was hoping she might ask about this. (Though I can understand why she didn’t.) If nothing else, it would be good PR if she added more to her current holding. Especially since Berkshire/Abel think this is a good buying opportunity right now.
Decker’s ownership is small but I believe she got on the BRK board after getting to know Charlie Munger when they both served on the Costco board, so Charlie’s vote of confidence has mitigated the ownership issue for me to some extent, but it would be nice to see some of the directors with less skin in the game follow Greg Abel’s lead and buy some shares here.
Hi DeLorean (Love the name!) — I believe Warren wants Howard to be non-executive chairman (so not involved with the business itself) because of the relationships he has with all board members over the past 30+ years and to be a person they could go to if they have complaints/concerns about the CEO and then he could raise the issue with the board as a whole.
Buffett has spoken a lot recently about how too many directors are not as independent as they should be and are too afraid to lose their board seat if they contradict or disagree with the CEO. So I think this is his solution so that directors are able to present their concerns without worrying about it blowing back on them.
Shareholders, though, have never really gotten a chance to know Howard or hear his thoughts on a lot of Berkshire-related issues. I really wish he would be included in the Q&A at the annual meeting because I think people would appreciate hearing from him.
We need more companies to be like this. Less and less shares. Only competent people paid for performance
Agreed!
Kevin, you summarize well why Berkshire has a very large Margin of Trust.
Thanks Arthur!
With everything being relative Susan Decker's 3125 B shares seems quite light for a Berkshire Director, and it's been that way for as long as I can remember. Ken Chenault fits into that category as well.
When Becky Quick interviewed Sue Decker at last year’s AGM, I was hoping she might ask about this. (Though I can understand why she didn’t.) If nothing else, it would be good PR if she added more to her current holding. Especially since Berkshire/Abel think this is a good buying opportunity right now.
Decker’s ownership is small but I believe she got on the BRK board after getting to know Charlie Munger when they both served on the Costco board, so Charlie’s vote of confidence has mitigated the ownership issue for me to some extent, but it would be nice to see some of the directors with less skin in the game follow Greg Abel’s lead and buy some shares here.
Howard possibly serving as the next chairman is anti-meritocratic and frustrating, if I'm being frank.
Hi DeLorean (Love the name!) — I believe Warren wants Howard to be non-executive chairman (so not involved with the business itself) because of the relationships he has with all board members over the past 30+ years and to be a person they could go to if they have complaints/concerns about the CEO and then he could raise the issue with the board as a whole.
Buffett has spoken a lot recently about how too many directors are not as independent as they should be and are too afraid to lose their board seat if they contradict or disagree with the CEO. So I think this is his solution so that directors are able to present their concerns without worrying about it blowing back on them.
Shareholders, though, have never really gotten a chance to know Howard or hear his thoughts on a lot of Berkshire-related issues. I really wish he would be included in the Q&A at the annual meeting because I think people would appreciate hearing from him.