Questions Continue to Linger Over Berkshire Succession
Although the top candidate remains veiled in secrecy, signs abound about the preferred successor.
With more than a year having passed since the David Sokol affair raised some serious questions about succession planning at Berkshire Hathaway (BRK.A) (BRK.B), we feel as though we still don't have a complete picture of what the firm will look like in a post-Warren Buffett world.
The Oracle of Omaha moved to quell some of the concerns that have arisen about succession planning in his annual letter to shareholders this year, noting that Berkshire's board of directors has a candidate in mind to replace him as chief executive, and that this person is "an individual to whom they have had a great deal of exposure and whose managerial and human qualities they admire." Buffett also noted that the board has "two superb backup candidates" in mind, in the event that the first pick for the CEO role was not available.
Greggory Warren does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.