Lawrence A. Cunningham
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Lawrence A. Cunningham (born July 10, 1962) is a corporate director and advisor, author, professor and lawyer. He is the founder and managing partner of the Quality Shareholders Group and special counsel with Mayer Brown LLP, the international law firm. Cunningham is best known as an expert on
corporate governance Corporate governance is defined, described or delineated in diverse ways, depending on the writer's purpose. Writers focused on a disciplinary interest or context (such as accounting, finance, law, or management) often adopt narrow definitions ...
. He is also known for his knowledge of the history and corporate culture of
Berkshire Hathaway Berkshire Hathaway Inc. () is an American multinational conglomerate holding company headquartered in Omaha, Nebraska, United States. Its main business and source of capital is insurance, from which it invests the float (the retained premiu ...
and
Warren Buffett Warren Edward Buffett ( ; born August 30, 1930) is an American business magnate, investor, and philanthropist. He is currently the chairman and CEO of Berkshire Hathaway. He is one of the most successful investors in the world and has a net ...
. He has served on the board of directors of many companies, including Constellation Software, Kelly Group Partners, and Markel Group.


Early life

Cunningham's father died when Cunningham was 13. He then enrolled in
Girard College Girard College is an independent college preparatory five-day boarding school located on a 43-acre campus in Philadelphia, Pennsylvania. The school was founded and permanently endowed from the shipping and banking fortune of Stephen Girard upon ...
, a high school in
Philadelphia Philadelphia, often called Philly, is the List of municipalities in Pennsylvania#Municipalities, largest city in the Commonwealth (U.S. state), Commonwealth of Pennsylvania, the List of United States cities by population, sixth-largest city i ...
, Pennsylvania for "poor orphans." He worked full-time to put himself through his home-state school,
University of Delaware The University of Delaware (colloquially UD or Delaware) is a public land-grant research university located in Newark, Delaware. UD is the largest university in Delaware. It offers three associate's programs, 148 bachelor's programs, 121 ma ...
, graduating with a Bachelor of Arts in economics. He then attended and graduated from the Benjamin N. Cardozo School of Law of Yeshiva University with a JD degree '' magna cum laude'' in 1988.


Career

From 1988 to 1994, Cunningham practiced corporate law with
Cravath, Swaine & Moore Cravath, Swaine & Moore LLP (known as Cravath) is an American white-shoe law firm with its headquarters in New York City, and an additional office in London. The firm is known for its complex and high profile litigation and mergers & acquisiti ...
, specializing in corporate governance, corporate finance and M&A. From 1994 to 2002, he taught at the
Cardozo School of Law The Benjamin N. Cardozo School of Law is the law school of Yeshiva University. Located in New York City and founded in 1976, the school is named for Supreme Court Justice Benjamin N. Cardozo. Cardozo graduated its first class in 1979. An LL.M. ...
, where he directed The Samuel and Ronnie Heyman Center on Corporate Governance, and wrote several books on
value investing Value investing is an investment paradigm that involves buying securities that appear underpriced by some form of fundamental analysis. The various forms of value investing derive from the investment philosophy first taught by Benjamin Graham an ...
. From 2002 to 2007, he was professor of law and business and vice dean at Boston College. From 2007 to 2022, he was the Henry St. George Tucker III Research Professor at
George Washington University The George Washington University (GW or GWU) is a Private university, private University charter#Federal, federally chartered research university in Washington, D.C. Chartered in 1821 by the United States Congress, GWU is the largest Higher educat ...
where he founded and for many years ran GW in New York (a training program for GW Law School students interested in business law) and the Quality Shareholders Initiative (now organized as a consulting firm, Quality Shareholders Group). Cunningham is a director of Constellation Software Inc. (TSX) and since 2019, its vice chairman. Cunningham is also a director of Markel Group (NYSE) and Kelly Partners Group (ASX). In 2023, Cunningham joined Mayer Brown LLP as Special Counsel, advising public company boards on corporate governance.


Honors

Two of Cunningham's books have been named outstanding titles of the year by the American Library Association: Berkshire Beyond Buffett (Columbia U. Press 2015) and Contracts in the Real World (Cambridge U. Press 2013). In 2018, Cunningham received the B. Kenneth West Lifetime Achievement Award from the
National Association of Corporate Directors The National Association of Corporate Directors (NACD) is an independent, not-for-profit, section 501(c)(3) founded in 1977 and headquartered in Arlington, Virginia. NACD's membership includes the entire boards of 1,700+ corporations as well as ...
(NACD), in recognition of his board service, board advice, and research on corporate governance. In 2023, Cunningham delivered the 37th Annual Pileggi Distinguished Lecture to the bench and bar of Delaware and to the faculty and students of Delaware Law School.


Selected publications

Cunningham has done work for the Securities Investor Protection Corp. (SIPC) and
Public Company Accounting Oversight Board The Public Company Accounting Oversight Board (PCAOB) is a nonprofit corporation created by the Sarbanes–Oxley Act of 2002 to oversee the audits of public companies and other issuers in order to protect the interests of investors and further t ...
, as well as writing popular accounts of AIG and Berkshire Hathaway. He also wrote several influential books on investing, including quality investing (about governance as stewardship for shareholders). He writes a regular column for MarketWatch, Cunningham's Quality Investing. He has written or edited about 50 scholarly articles, including articles in law reviews, and published a dozen books. His textbook on accounting is the standard teaching book in US law schools. * * * * * * Margin of Trust: The Berkshire Business Model. Columbia University Press. 2020. * Dear Shareholder: The Best Executive Letters. Harriman House. 2020. * Quality Shareholders. Columbia University Press. 2020.


References


External links


Lawrence A. Cunningham publications
via
George Washington University The George Washington University (GW or GWU) is a Private university, private University charter#Federal, federally chartered research university in Washington, D.C. Chartered in 1821 by the United States Congress, GWU is the largest Higher educat ...
{{DEFAULTSORT:Cunningham, Lawrence Living people 1962 births University of Delaware alumni Benjamin N. Cardozo School of Law alumni Boston College faculty American finance and investment writers Writers from Delaware George Washington University faculty Cravath, Swaine & Moore people