> Warren Buffett Blog: Character is key for next Berkshire CEO - Warren Buffett

Thursday, March 5, 2015

Character is key for next Berkshire CEO - Warren Buffett

Character is crucial: A Berkshire CEO must be ‘all in’ for the company, not for himself.”

It’s important that neither ego nor avarice motivate him to reach for pay matching his most lavishly-compensated peers, even if his achievements far exceed theirs. A CEO’s behavior has a huge impact on managers down the line: If it’s clear to them that shareholders’ interests are paramount to him, they will, with few exceptions, also embrace that way of thinking.

My successor will need one other particular strength: the ability to fight off the ABCs of business decay, which are arrogance, bureaucracy and complacency. When these corporate cancers metastasize, even the strongest of companies can falter.