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Warren Buffett: Annual Letter Comments Regarding the Selection of Corporate Directors
\n<\/strong>
\nBerkshire Hathaway 2003 Annual Report: Pages 9-10 (bold added): <\/p>\n

True independence \u2013 meaning the willingness to challenge a forceful CEO when something is wrong or foolish \u2013 is an enormously valuable trait in a director. It is also rare. The place to look for it is among high-grade people whose interests are in line with those of rank-and-file shareholders \u2013 and are in line in a very big way<\/strong>. <\/p>\n