I’m not sure Warren will still be coming into the office and having much input regarding the portfolio or repurchases. Otherwise, why change his title? Emeritus roles are customarily ceremonial in nature. The policy, stated in the latest 10-Q, is for the CEO to consult with “the Chairman” on repurchases. Will this be changed to “the Chairman Emeritus”? Unfortunately the press release leaves unanswered many important questions.
I definitely agree that the press release could have been clearer as to what this actually means and why the transition is happening now.
I took the line from his letter that “I still have the best job in the world” (in the present tense) to mean that his day-to-day responsibilities won’t be changing, but that’s admittedly a big assumption on my part. But I can also see how the closing line “I look forward to remaining a shareholder alongside you” could indicate the opposite. I wish they had just spelled it out clearly in the announcement.
Maybe Becky Quick (or the WSJ) will get the full scoop sometime today.
I’m not sure Warren will still be coming into the office and having much input regarding the portfolio or repurchases. Otherwise, why change his title? Emeritus roles are customarily ceremonial in nature. The policy, stated in the latest 10-Q, is for the CEO to consult with “the Chairman” on repurchases. Will this be changed to “the Chairman Emeritus”? Unfortunately the press release leaves unanswered many important questions.
I definitely agree that the press release could have been clearer as to what this actually means and why the transition is happening now.
I took the line from his letter that “I still have the best job in the world” (in the present tense) to mean that his day-to-day responsibilities won’t be changing, but that’s admittedly a big assumption on my part. But I can also see how the closing line “I look forward to remaining a shareholder alongside you” could indicate the opposite. I wish they had just spelled it out clearly in the announcement.
Maybe Becky Quick (or the WSJ) will get the full scoop sometime today.
An interview with Becky would be great. Maybe Warren, Greg, and Howard? That would clear up many questions.