Warren Buffett Chose a Favorite, Not a Successor

Photograph by Tomohiro Ohsumi/Bloomberg

The news was intended to comfort anyone who cares to imagine Berkshire Hathaway without its octogenerian leader at the helm. Warren Buffett has finally—finally!—found someone to replace him as chief executive officer. But that announcement, disclosed in Buffett’s annual shareholder letter on Feb. 25, has turned out to be something of a non-event. If anything, it’s arguably worse: a notice that could foster more confusion and ill will than if he’d said nothing at all.

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