GM's Mary Barra shares Warren Buffett's 'phenomenal advice' to her
General Motors CEO Mary Barra said she's "forever grateful" to Warren Buffett for advising and supporting her during some "pretty dicey times."
General Motors CEO Mary Barra shared Warren Buffett's "phenomenal advice" during their recent meeting, according to the latest episode of the Fortune 500: Titans and Disruptors of Industry podcast. Buffett, the chairman of Berkshire Hathaway, is known for his shrewd business acumen. During their conversation, Barra recounted how Buffett emphasized the importance of focusing on long-term success rather than short-term quarterly earnings, a lesson she found invaluable.
This advice came at a time when GM was facing a crisis, as they had to recall 2.6 million vehicles due to defective ignition switches. Barra praised Buffett's support throughout her tenure at GM, noting that he was always there to guide her as she worked on reshaping the company's culture to prioritize customer satisfaction, safety, and innovation.
Despite Berkshire Hathaway previously owning nearly 6% of GM, the company eventually exited its stake in 2023. Despite this, Buffett remained supportive, even persuading Barra to upgrade her Cadillac to a newer model.
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