CFO Change at Fairfax

[Munger_Disciple]

Any comments from board members on the CFO change announced on June 4 by Fairfax? It seems strange.

[Parsad]

No, nothing unusual.  Fairfax has a history of rotating managers and executives.  I think it's good because you have a number of people who are very capable of stepping into specific situations...very important in succession planning.  The team is so deep at Fairfax, and this ensures that it remains that way.  Cheers!

[Crip1]

When this was referenced by Fairfax several years back, I was not overly impressed. It seemed like either a "gimmick" designed to look good or an excuse for shuffling under-performing managers who were sacred cows that could not be pushed out on the street. Over the past few years, it's become clear that my original thesis was wrong.

 

Professionally, I've been pushed into a few different silos within our organization. These moves were more a result of need rather than any developmental program, but I can definitely attest to the benefit of this.

 

-Crip