Berkshire Has Chosen Buffett's Successor As CEO, But That Person Doesn't Know It Yet
Business Insider - almost 5 years
OMAHA, Neb. (AP) — Berkshire Hathaway shareholders make their annual pilgrimage here this weekend, and this year they have to confront an uncomfortable truth: Warren Buffett, Berkshire's CEO and the greatest celebrity in investing, can't go on forever.
Investors would rather not imagine life without the Oracle of Omaha, who is 81 and said last month that he had been diagnosed with prostate cancer. And he has no plans to leave the post soon.
When the day comes, people who have studied the company say, Berkshire without Buffett will probably look a lot like Berkshire with Buffett.
Berkshire, which owns roughly 80 subsidiaries that range from a railroad to an upscale kitchen products company, is already decentralized: Of its 270,000 employees, just 24 work at Omaha headquarters.
The conglomerate has a succession plan in place. Berkshire will split Buffett's job into three when he's gone, and the board has chosen the next CEO — although Buffett has said that person doesn't know it
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