Are you using a definition of maximising shareholder value that doesn't mean what it appears to say on the tin?
Berkshire Hathaway exists solely to maximise shareholder value, prima facie. Why else would people buy and hold their shares? Altruism? Warren says it exists to enrich shareholders in the long term.
Are confusing shareholder value with a short-term focus on return?
It gives them leeway to do some things that don't explicitly or obviously increase shareholder value. Or I suppose they could do something "ethical" instead of profitable, but I don't think that's very likely.
Berkshire Hathaway exists solely to maximise shareholder value, prima facie. Why else would people buy and hold their shares? Altruism? Warren says it exists to enrich shareholders in the long term.
Are confusing shareholder value with a short-term focus on return?