Warren Buffett’s ‘10 Commandments’ for Board Leaders

Businessman walking up stairs into arrow shaped door

Warren Buffett is perhaps the most recognized name in the history of American corporate governance. As the leader of Berkshire Hathaway, a multinational conglomerate holding company, Buffett has become one of the most accomplished businesspersons of all time. Because of his immense success, Buffett’s advice carries with it great weight and authority. Many of his essays and letters have been collected for publication, and he’s known among journalists for his quotable quips and reasonable advice for investors.

Recently, a George Washington University professor named Lawrence Cunningham compiled a list of Buffett’s most important guidelines for corporate directors, which was published in the latest edition of NACD’s Directorship magazine. You can read a condensed and edited version of that article here. These “ten commandments” for business leaders, as Cunningham calls them, are what Buffett cites for his vast amount of boardroom triumphs.
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Being an Effective Board Chairman

effective board chairman

Effective leadership is a topic that has been visited and revisited by business publications, psychology magazines, and more. People have a lot to say about leadership and what makes a particular style of leadership great. But when it comes to board leadership, what really puts a board chair a head above the rest?

  1. Effective board chairs seek meaningful contact between board meetings.

According to Harvard Business Review, “Impromptu discussions strengthen a board’s hand on the company’s pulse. Keeping board members informed also minimizes the time spent on background that slows up regular board meetings.” When board chairs take the lead to spark conversation outside of meetings, other board members are more likely to follow suit. At Directorpoint, we encourage this sort of collaboration outside of the meeting with our member-to-member messaging system. Instead of clogging one another’s inboxes, board members can reach out to their cohorts quickly and easily both during and outside of meeting times.
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