Biography | Warren Buffett — The Boardroom Vote That Put Him in Charge of the Mill
· 1965-5
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Biography | Warren Buffett — The Boardroom Vote That Put Him in Charge of the Mill
kevin
On 10 May 1965 Warren Buffett flew into New Bedford and took control of Berkshire Hathaway.
He had been buying shares for years after a disagreement over a tender offer.
At the meeting in the company headquarters on Cove Street, with the support of Otis Stanton, he was elected chairman.
Ken Chace was named president.
Textile production continued for another two decades, but the capital and the corporate form became the platform for a different enterprise.
Most of the mill buildings are gone. The pin marks the site of that boardroom decision.
The address was 97 Cove Street, near the harbor.
Photo: public domain (Library of Congress / New Bedford harbor view), via Wikimedia Commons
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