5 Key Quotes From Markel Corporation (MKL)’s CEO

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On shunning bureaucracy: “If something’s going wrong, you want to call and get somebody in charge. So if we got nine presidents, plus a corporate president, you ought to get a damn president if you want to.”

In keeping the company’s “Markel Style,” Kirshner loathes bureaucracy. According to a 2006 interview with Richmond Magazine, Kirshner even refuses to use voice mail and tries to personally answer calls on the second ring. In addition, former employees told of his propensity for walking Markel’s corridors, a practice affectionately dubbed MBWA, or “management by walking around.”

On knowing his company: Speaking to the notable lack of prepared statements during Markel’s annual shareholder’s meeting, Kirshner states “A lot of companies and a lot of executives don’t really like to answer those kinds of things in public. They’re not comfortable. But let me tell you, we eat, live and breathe the business. It’s not hard for us to answer questions.”

I don’t know about you, but these are exactly the kind of executives I look for in a company. While it’s important for investors to perform due diligence on every stock they own, it sure helps to be confident in management’s knowledge of the underlying businesses.

Built to last
Considering Kirshner’s words and Markel’s long-standing dedication to creating shareholder value over the long term, it’s no surprise the company has risen nearly 5,800% since its IPO in 1986. Even so, Markel’s total market capitalization is still less than $5 billion, and massive financial holding companies like Warren Buffett’s $250 billion Berkshire Hathaway have shown Markel still has plenty of room to grow.

The article 5 Key Quotes From Markel’s CEO originally appeared on Fool.com and is written by Steve Symington.

Fool contributor Steve Symington owns shares of Markel. The Motley Fool recommends Berkshire Hathaway and Markel. The Motley Fool owns shares of Berkshire Hathaway and Markel.

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