Thought Food

Warren Buffett Made a Big Bet On an ‘In-Your-Face’ CEO

85-year-old billionaire Warren Buffett has been reliant on his managers to run Berkshire’s far-flung operations for many years. Buying the Portland, Oregon-based company Precision Castparts Corp. for $37 billion in January, was one of his biggest deals ever – and has become even more lucrative under the management of Buffett’s newest CEO Mark Donegan. While Buffett allows his “all-star” group of executives plenty of autonomy and brags about their accomplishments, recent news about Donegan’s work ethic reveals something more brutal going on behind the curtain. Current and former employees have described the CEO as a highly effective manager, but at times strains basic decency. Moreover, more talks are surfacing about Donegan’s controversial expenditures. Question is, did Buffett make a conscious decision to put his trust in Donegan, having been long attracted to CEOs who wring expenses out of their businesses?
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