Berkshire Without Buffett: Will It Flounder Without The Oracle At The Helm?

1/19/18

That old adage came to mind last week when I read of the latest internal moves at Berkshire Hathaway (BRK.A) (BRK.B). The company announced on January 10th that CEO Warren Buffett had named two senior executives, Ajit Jain and Greg Abel, to the board of directors. Each was also given the status of vice chairman and increased autonomy in their respective business units.

The move appears to signal the latest evolution of Buffett’s thinking regarding the eventual ascension of a new chief executive. While Buffett has stated that he has no plans of retiring, he appears to at last be bowing to the reality that his advancing age (he is now 87) demands a plan of succession be put in place. A disordered or chaotic period after his sudden demise or incapacitation could cause irreparable damage to the reputation of one of the most respected companies in the world.

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