Tag: Board of Directors

Categories
Announcements

Tom Murphy Resigns From Berkshire Board

(BRK.A), (BRK.B)

Tom Murphy, a member of Berkshire Hathaway’s Board of Directors since 2003, has resigned from Berkshire’s Board effective February 15, 2022.

Warren Buffett, Berkshire’s Chairman and CEO, issued the following statement. “Tom Murphy has taught me more about running a business than any other person. We have been friends and mental partners for more than 50 years. My only regret is that I didn’t meet him earlier. Tom phoned me today and said that recovering from a recent bout with Covid convinced him that he would feel more comfortable ending his activities at Berkshire. I accepted his wish. He will continue as a major shareholder and friend.”

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell a stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

Categories
Appointments

Susan A. Buffett and Christopher C. Davis Appointed to Berkshire Hathaway Board of Directors

(BRK.A), (BRK.B)

Berkshire Hathaway has announced that Susan A. Buffett and Christopher C. Davis have each been elected to the Board of Directors of Berkshire Hathaway Inc.

Susan Alice Buffett (60) is the daughter of Warren Buffett and is the Chairman of the Susan Thompson Buffett Foundation and the Chairman of the Sherwood Foundation, each of which is a private, grant-making foundation based in Omaha, Nebraska.

Christopher Davis (54) is Chairman of Davis Select Advisors, an investment management firm that oversees over $25 billion in assets. He is a director on the boards of both Coca-Cola and Graham Co.

The appointments come less than a month after the death of longtime Berkshire Hathaway director Walter Scott Jr., who died in September at the age of 90.

© 2021 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

Categories
Appointments

Former American Express CEO Kenneth Chenault Nominated to Berkshire Hathaway Board, Bill Gates Off

(BRK.A), (BRK.B)

Berkshire Hathaway’s board of directors will have a new member and lose an old one as of the upcoming annual meeting on May 2.

Kenneth Chenault, the former CEO and Chairman of American Express from 2001 until 2018, and the third African American CEO of a Fortune 500 company, will join Berkshire’s board.

Chenault is 68, making him a relative youngster as far as Berkshire goes.

Berkshire Hathaway owns just over 18% of American Express stock.

Meanwhile, longtime board member Bill Gates is stepping down. Gates has been on Berkshire’s board since 1991.

“I have made the decision to step down from both of the public boards on which I serve – Microsoft and Berkshire Hathaway – to dedicate more time to philanthropic priorities including global health and development, education, and my increasing engagement in tackling climate change,” Gates wrote on a LinkedIn blog last Friday.

© 2020 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.