Warren Buffett Honors Obscure RV Maker Founder Pete Liegl
Pete Liegl, the late CEO of Forest River, contributed "many billions" to Warren Buffett's Berkshire Hathaway portfolio through his exceptional leadership and no-nonsense business style. Liegl's leadership transformed the RV company into one of Berkshire Hathaway's most successful investments. The 94-year-old Buffett paid homage to Liegl in his annual letter, highlighting the impact of Liegl's single great decision – acquiring Forest River.
- Liegl's modest salary request of $100,000 per year highlights a refreshing approach to executive compensation, where the focus is on performance and value creation rather than lavish pay packages.
- How will Buffett's approach to honoring Liegl, who received whatever salary he wished from Berkshire Hathaway, influence his philosophy on CEO compensation in the future?