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Re: [sharechat] Response to Hugh Webber Post

From:	"Brian & Fiona Brakenridge" <pohuenui.island@xtra.co.nz>
Date:	Tue, 7 May 2002 18:46:53 +1200

T100

Buffett and Brierley are similar in some respects but the one aspect where they differ greatly is in their management styles. Buffett is almost entirely hands off and allows his CEOs to carry on running their companies as they have often since inception. The classic horizontal management style.

Can I recommend a fascinating book on the subject by Robert Miles "The Warren Buffett CEO" in which Miles interviews a dozen or so of Berkshires CEOs. Great reading and some interesting facts. One that stands out is the fact that Berkshire has not once lost a CEO to another company in it's 34 year existence. Buffett buys these companies often with the understanding that nothing changes and the CEO is to carry on business as usual. One of the only requests Buffett has of the CEO is that he is kept up to date as to what the CEO's succession plan is, ie. who he would want to succeed him if he was hit by a bus tomorrow.

A great read if you are interested in management styles in general.

Cheers

Brian

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