Buffett Praises GM’s New CEO

Billionaire investor Warren Buffett said that the new CEO of General Motors would do an excellent job running any business. He mentions that he feels she is the right person to handle the company’s recall problems.

On CNBC on Monday, Warren Buffett said that he was impressed with Mary Barra when he met her last fall at a conference.

In January, Barra became the top executive at General Motors, and she is also the first woman to lead a major automobile maker. At the time of taking over, a deadly ignition switch issue started to surface.

General Motors had to recall 2.6 million cars, and they even admitted that they knew about the problem for over a decade. Barra tells us that she only learned about it in December.

Warren Buffett and Berkshire Hathaway own 40 million shares of GM stock, but Buffett tells us that he was not the one to make the investment. Ted Weschler, one of the two Berkshire Hathaway investment managers, made the purchase.

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