Paying for CEO performance

I am the compensation committee for 70-some companies which Berkshire owns. It’s not rocket science. And we pay a lot of money to some of our CE Os, but it’s all performance. When they make a lot of money it’s performance related. And we have different arrangements for different people. But we’ve never hired a compensation consultant, ever. And we never will. If I don’t know enough to figure out the compensation for these people, you know, somebody else should be in my job.

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