Warren Buffett’s recent exit as CEO of Berkshire Hathaway is being widely recognized not only for its impact on Wall Street but also as a master class in selfless leadership. Carolyn Dewar, senior partner and co-leader of McKinsey’s CEO practice, one of the firm’s vaunted “CEO whisperers” describes Buffett’s handover as “leadership at its most selfless”—a quiet but powerful lesson for leaders everywhere.
Dewar, who has talked to hundreds of CEOs and leaders for her role, including for her recently coauthored work, A CEO for All Seasons, wrote on LinkedIn that Buffett’s final letter to Berkshire shareholders is typical of the man they call “the Oracle of Omaha.” For instance, when he reminds readers that “the cleaning lady is as much a human being as the chairman,” Dewar writes that it sums up his whole leadership philosophy. “Decency is not decorative. Respect is what sustains loyalty, trust, and long-term success.”
In conversation with Fortune, Dewar emphasized that Buffett’s exit is itself an example of leadership. Buffett’s decision was not only personal but deeply organizational, reflecting the importance of choosing the right moment to ensure a thriving future for Berkshire Hathaway. Leaders must ask themselves whether they would pick themselves for the evolving needs of their company—a rarely practiced but crucial reflection. “For any leader, really saying from a company point of view … ‘Given the kind of skills we’ll need in our next leader, am I the right person to take us on that next journey?’”
