Of Permanent Value: The Story of Warren Buffett (Part I) by Andrew Kilpatrick

Author:Andrew Kilpatrick [Kilpatrick, Andrew]
Language: eng
Format: mobi
Publisher: 8th Avenue Books
Published: 2012-04-18T04:00:00+00:00

Mr. Bianco made no attempt to contact me but that didn’t prevent him from guessing about why I left General Reinsurance. For the record, from the moment I learned of Berkshire Hathaway’s interest in General Re, I have believed that the combination is a perfect one. And I didn’t promptly resign as president and COO because of “Buffett’s well-advertised opposition to stock options.” In fact, I spent seven months following the announcement of the acquisition from June 1998 to February 1999 traveling to Gen Re offices around the world assuring the company’s management team, employees, and customers that the acquisition was right for them. I resigned for the opportunity to help lead the St. Paul Companies, one of the leading primary commercial insurers in the world. But even when the opportunity presented itself, it was still a very hard decision to leave Gen Re, a great company in every respect, after 30 years.

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