Is Buffett Ready To Hand Over The Keys?
Warren Buffett may quit his Wall Street job as early as June 3. That's the date of Salomon's next scheduled board meeting and a good time for Buffett to name the next CEO of Salomon Inc. One possible candidate: John Byrne, CEO of Fund American and former chief of GEICO, a winning Buffett investment.
The CEO's primary task will be keeping an eye on Salomon's two operating units, Salomon Brothers and Phibro Energy. Buffett has already named Deryck Maughan the chairman of investment bank Salomon Brothers.