Berkshire Hathaway Inc.’s Tom Murphy, a board member for nearly two decades and a longtime confidante of billionaire Warren Buffett, plans to resign after a battle with Covid-19.
“Tom phoned me today and said that recovering from a recent bout with Covid convinced him that he would feel more comfortable ending his activities at Berkshire,” Buffett, the chairman and chief executive officer, said Monday in a statement. “I accepted his wish. He will continue as a major shareholder and friend.”
Murphy, 96, previously led Capital Cities/ABC Inc. His departure is the latest reshuffling of Berkshire’s board. In 2020, Bill Gates, Buffett’s friend and the co-founder of Microsoft Corp., stepped down from the board and was replaced by Kenneth Chenault. Last year, the company added Susan Buffett, Warren Buffett’s daughter, and fund manager Christopher Davis to the board.
Berkshire didn’t disclose in the statement who might be nominated to fill the seat. The company will host its annual meeting in April and is planning, as of its announcement late January, to hold it as an in-person event.
“Tom Murphy has taught me more about running a business than any other person,” Buffett said. “We have been friends and mental partners for more than 50 years. My only regret is that I didn’t meet him earlier.”