Chris Davis
About Chris Davis
Christopher C. Davis, age 59, has served on Berkshire Hathaway’s Board since 2021. He is Chairman of Davis Advisors (since 1998) and sits on the boards of The Coca‑Cola Company and Graham Holdings Company, bringing deep investment management and public‑company governance experience. Berkshire identifies Davis as an independent director under SEC and NYSE standards .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Davis Advisors | Chairman | 1998–present | Leads a large investment management and counseling firm; financial expertise central to board contribution |
| Davis Select Advisers‑advised mutual funds and controlled entities | Director | Not disclosed | Multiple fund directorships underscore oversight of fiduciary processes |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| The Coca‑Cola Company | Director | Not disclosed | Berkshire discloses Coca‑Cola as a top five equity holding (strategic interlock context) |
| Graham Holdings Company | Director | Not disclosed | Media/education conglomerate board service broadens governance perspective |
Board Governance
- Committee assignments: Audit Committee member (with Susan L. Decker, Wallace R. Weitz, Meryl B. Witmer); the committee held six meetings in 2024 .
- Independence: Determined independent by the Governance Committee under SEC Item 407(a) and NYSE standards .
- Attendance and engagement: Each director attended all Board and committee meetings on which they served in 2024; three meetings of independent directors were held .
- Years of service: Berkshire director since 2021 .
- Lead Independent Director: Susan L. Decker (Davis is not LID) .
Fixed Compensation
- Berkshire pays non‑employee directors per‑meeting fees and quarterly Audit Committee fees; there is no disclosed annual cash retainer, equity grants, or D&O insurance for directors .
| Component | Policy Detail | 2023 | 2024 |
|---|---|---|---|
| Board/Committee meeting fees (cash) | $900 per in‑person meeting; $300 per telephonic meeting | — | — |
| Audit Committee cash fee | $1,000 per quarter | — | — |
| D&O insurance | Not provided to directors | — | — |
| Total cash fees earned – Christopher C. Davis | Per Berkshire's director compensation table | $6,700 | $6,700 |
Performance Compensation
- Berkshire does not disclose any director equity grants, options, PSUs/RSUs, or performance‑metric‑based director pay; disclosed director compensation is cash fees only .
| Performance‑Linked Component | 2023 | 2024 |
|---|---|---|
| Equity awards (RSUs/PSUs) | None disclosed | None disclosed |
| Option awards | None disclosed | None disclosed |
| Performance metrics tied to director pay | None disclosed | None disclosed |
| Clawback provisions applicable to director pay | Not disclosed in director context | Not disclosed in director context |
Other Directorships & Interlocks
| External Board | Potential Interlock | Governance Note |
|---|---|---|
| The Coca‑Cola Company | Berkshire reports Coca‑Cola among its five largest equity holdings at year‑end 2024 | Creates a network linkage; Berkshire nonetheless deems Davis independent and maintains Audit Committee oversight of related‑party transactions at the corporate level |
| Graham Holdings Company | None specifically disclosed by Berkshire | General external governance experience supports board effectiveness |
Expertise & Qualifications
- Berkshire highlights Davis’s “experience and financial expertise as the chairman of a large investment management and counseling firm and as a director of two public corporations,” aligning with Audit Committee service requirements .
- The Board seeks directors with high integrity, business savvy, owner‑orientation, deep interest in Berkshire, and meaningful Berkshire share ownership over at least three years—criteria Davis meets .
Equity Ownership
| Security | Shares Beneficially Owned | % of Respective Class | Voting Power % (Aggregate) | Economic Interest % (Aggregate) |
|---|---|---|---|---|
| Class A | 36 | <0.1% | — | — |
| Class B | 2,666 | <0.1% | — | — |
Notes:
- Berkshire reports beneficial owners exercise sole voting and investment power unless otherwise stated; Class A convertible into 1,500 Class B (conversion not reflected to avoid overstatement) .
- No pledging, hedging, or related‑party holdings are disclosed for Davis in the proxy footnotes .
Governance Assessment
- Committee effectiveness: Davis’s Audit Committee role places him at the center of financial reporting oversight, auditor independence, and internal control review; the committee met six times in 2024 and issued its annual report recommending publication of Berkshire’s 2024 consolidated financials .
- Independence and attendance: Explicit independence designation and perfect meeting attendance contribute positively to board reliability and investor confidence .
- Pay alignment: Minimal, fee‑only director compensation, absence of equity awards, and no D&O insurance reduce potential misalignment and insurance moral hazard, but also mean limited direct equity‑based incentives at the director level; Berkshire instead emphasizes owner‑orientation via personal share ownership .
- Ownership alignment: Davis holds Berkshire shares (36 A; 2,666 B), albeit <0.1% of respective classes; Berkshire’s director selection principles rely on significant holdings relative to individual resources rather than prescriptive guidelines—consistent with long‑term alignment philosophy .
- Interlocks/conflicts: Serving on Coca‑Cola’s board while Berkshire is a large shareholder constitutes an interlock; Berkshire maintains independence determinations and centralizes related‑party transaction oversight within the Audit Committee, mitigating conflict risk at the parent level. No Davis‑specific related‑party transactions are disclosed .
- RED FLAGS: None disclosed for Davis regarding low attendance, related‑party transactions, pledging/hedging, or delinquent Section 16 filings; Berkshire states 2024 compliance with Section 16(a) .