Sir Alex Ferguson, the legendary manager who oversaw Manchester United for 26 years, has praised Warren Buffett’s leadership style in his book “Leading.” Ferguson, who mentored soccer superstar David Beckham, touted Buffett’s long-term view and hands-off management approach as qualities that soccer-team owners should emulate. He co-wrote “Leading” with journalist and venture capitalist Michael Moritz a few years ago.
Ferguson highlighted the difference between Buffett’s focus on long-term prosperity and the short-term results that plague publicly traded companies. He emphasized the negative impact of owners or shareholders who are solely focused on short-term results, stating that it leads to a never-ending cycle of misery, particularly in the football industry.
Warren Buffett, who has led Berkshire Hathaway since 1965, is known for his long-term perspective and commitment to owning businesses indefinitely. His approach involves empowering the leaders of Berkshire’s subsidiaries to make sound long-term decisions, with Berkshire’s ownership stakes in companies like Coca-Cola and American Express lasting over 30 years.
In “Leading,” Ferguson also underscored the importance of club owners supporting a manager’s vision for the long term, while providing the necessary resources and avoiding interference in daily management.
Ferguson’s admiration for Buffett’s style aligns with several CEOs of Berkshire subsidiaries who have spoken to Insider about their autonomy and trust from Buffett, emphasizing his hands-off approach to management.
Overall, Ferguson’s endorsement of Buffett’s leadership style sheds light on the value of supporting a manager’s efforts to inspire, cultivate talent, and unite the team around a long-term mission. Just as Buffett entrusts his managers with the guidance in his “Owner’s Manual,” Ferguson sees the benefit of owners embracing a similar approach in the soccer industry.
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