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Tom Murphy has resigned from Berkshire Hathaway’s Board of Directors effective today after serving since 2003. Warren Buffett acknowledged Murphy's significant influence on his business approach and stated that Murphy's recent recovery from Covid prompted his decision to step down. Despite resigning, Murphy will remain a major shareholder and a friend to Buffett.
Berkshire Hathaway, traded under symbols BRK.A and BRK.B, continues to diversify its business across various sectors, including insurance, energy, and manufacturing.
Positive
Tom Murphy remains a major shareholder of Berkshire Hathaway.
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Tom Murphy's resignation may affect the company's corporate governance.
OMAHA, Neb.--(BUSINESS WIRE)--
(BRK.A; BRK.B) – Tom Murphy, a member of Berkshire Hathaway’s Board of Directors since 2003, has resigned from Berkshire’s Board effective today.
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.”
About Berkshire
Berkshire Hathaway and its subsidiaries engage in diverse business activities including insurance and reinsurance, utilities and energy, freight rail transportation, manufacturing, retailing and services. Common stock of the company is listed on the New York Stock Exchange, trading symbols BRK.A and BRK.B.
