Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A)
No. of Recommendations: 3
"Olson, 83, is a partner at the law firm Munger, Tolles & Olson, and has been a Berkshire director since 1997.
He is leaving Berkshire's 14-member board because of the new age limit in its corporate governance guidelines. All other directors apart from Buffett are 75 or younger.
Olson did not immediately respond to requests for comment.
Buffett is excused from the age limit because he controls 30.3% of Berkshire's voting power, triggering an exception for people who control at least 5%."
No. of Recommendations: 0
That is rather surprising to me. Seems like a hoax.
No. of Recommendations: 1
No. of Recommendations: 0
Oh, I believe it. I just find it surprising and hoax-like considering Warren'a words and actions (up til now).
No. of Recommendations: 0
This seems odd to me, what do some of the long time owners feel about this? No big deal?
No. of Recommendations: 5
This seems odd to me, what do some of the long time owners feel about this? No big deal?
One thing that comes to mind for me is that, in the past few years, Berkshire had two directors (Charlie Munger and Sandy Gottesman) die while still serving on the Board, and another director (Tom Murphy) die very soon after stepping down from the Board. I imagine it's disruptive to have such sudden departures from the Board, so this might just be an effort to reduce the risk of that going forward.
No. of Recommendations: 3
This seems odd to me, what do some of the long time owners feel about this? No big deal?
I am a little concerned with the change. Does this mean Ajit will no longer be able to serve on the board in 7 years?
No. of Recommendations: 6
“This seems odd to me, what do some of the long time owners feel about this? No big deal?”
I was honestly quite surprised and disappointed. esp. as it relates to Ron Olson who was very tight with Charlie and helped us manage a Lot of legal issues over the years. That wisdom, experience and loyalty is invaluable imo and frankly, I don’t care about how many candles are on one’s birthday cake, as long as they add wisdom, experience & good judgement to the Board and represent Our interests as partners.
That being said, it will be interesting to hear some color wrt this decision/topic in Omaha by WEB as well as the rich spillover discussions at the Marriott & Hilton over a beverage about this and a potpourri of topics given these interesting times. I cherish these weekends even more as WEB’s sand in the hourglass passes to the lower bulb, even though I know Berkshire’s future is very bright.
No. of Recommendations: 8
That wisdom, experience and loyalty is invaluable imo...
It would be interesting to have a bit more info.
I was an advisor to the board of a public company for a few years---I attended the meetings and my advice was solicited, though I wasn't on the board. Maybe they will be doing something like that.
Jim
No. of Recommendations: 10
I can make a few guesses:
1. They want the new management (after WEB retires/dies) to not have "a bunch of old folks" telling them what to do.
2. They noticed some of the older board members going senile, and needed to find an elegant way to remove them.
3. They truly believe that "young blood" is necessary to have good results today.
