Insiders

Buffett had one conversation with Wells Fargo's Stumpf since scandal

September 29, 2016 at 02:59 pm EDT

(Reuters) - Warren Buffett, chairman of Berkshire Hathaway Inc, has had one conversation with Wells Fargo & Co boss John Stumpf since a sales scandal erupted on Sept. 8, knocking billions of dollars in market cap off the company, Buffett's office confirmed on Thursday.

Berkshire Hathaway is Wells Fargo's largest shareholder, owning 9.51 percent of the outstanding shares as of the latest available filings.

Stumpf told the House Financial Services Committee on Thursday that he and Buffett had one conversation since the scandal broke, but would not elaborate.

"What Mr. Stumpf said in the House hearings today regarding a conversation with Warren Buffett is correct," Buffett's secretary, Debbie Bosanek, said in an email to Reuters.

Buffett previously told Fox News he would not comment on the scandal until November. On Thursday he shot down rumors he had expressed "extreme dissatisfaction," with Wells Fargo's board of directors, according to CNBC.

(Reporting by Dan Freed in New York; edited by Linda Stern in Washington D.C.)

Stocks mentioned in the article

Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
BERKSHIRE HATHAWAY INC.	613,420 USD	-0.29%	+2.55%	883B
DEERE & COMPANY	394.6 USD	-0.65%	+0.41%	111B
FOX CORPORATION	31.71 USD	0.00%	+4.31%	14.46B

Warren Buffett

Warren Edward Buffett is an American businessperson who has been at the head of 6 different companies. Presently, Mr. Buffett occupies the position of Chairman & Chief Executive Officer of Berkshire Hathaway, Inc. and Chairman & Chief Executive Officer for Berkshire Hathaway Life Insurance Company of Nebraska, Chairman & Chief Executive Officer for General Reinsurance AG, Chairman & Chief Executive Officer for Berkshire Hathaway Assurance Corp., Chief Executive Officer at Berkshire Hathaway, Inc. (Investment Management) and Manager of Burlington Northern Santa Fe LLC (which are all subsidiaries of Berkshire Hathaway, Inc.). Mr. Buffett is also Trustee at Bill & Melinda Gates Foundation Trust, Principal at West End Capital Management (Bermuda) Ltd. and Member of American Academy of Arts & Sciences and on the board of 5 other companies. Mr. Buffett previously was Chairman of Justin Brands, Inc. Mr. Buffett received an undergraduate degree from the University of Nebraska and a graduate degree from The Trustees of Columbia University in The City of New York.

View full profile

Linked companies
BERKSHIRE HATHAWAY INC.	Chief Executive Officer
Berkshire Hathaway Life Insurance Company of Nebraska Berkshire Hathaway Life Insurance Company of Nebraska Life/Health InsuranceFinance Berkshire Hathaway Life Insurance Co. of Nebraska provides life insurance services. It provides retirement planning products and personal quotes through its web site. The firm also offers excess personal umbrella insurance through a property and casualty affiliate. The company is headquartered in Omaha, NE.	Chief Executive Officer

Linked companies

BERKSHIRE HATHAWAY INC.

Chief Executive Officer