WSJ article today went on to quote Buffett as warning that “business failures can occur if personable managers put on an appearance of competence”, and the directors let them slide.
“You get a guy or a woman in charge of it - they’re personable, the directors like em - they don’t know what they’re doing. But they know how to put on an appearance. That’s the single biggest risk.”
Wow! Talk about calling out Vicki without mentioning her name!
2 replies (most recent on top)
Clearly. Appointing Vicki as CEO has cost the shareholders (including the employees) about $30 billion! Company would be trading at $60+ stock price if not for the APC acquisition. What a loser!
Its Oxy. Were you expecting something to be done correctly?