Buffett Makes Case for His Successor to Keep Berkshire Together
- Billionaire investor also introduces more buybacks as option
- Berkshire’s next CEO may face more calls for breakup
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Warren Buffett’s latest annual letter didn’t offer many clues to the timing or identity of his successor. But he did present his answers to a couple of the biggest questions that will face whoever takes his place.
While the Berkshire Hathaway Inc. chief executive officer said he’s still happy in his job, his eventual exit will prompt questions on whether to break up the company and how to utilize what will probably still be a large cash pile. The legendary investor on Saturday made an impassioned case for keeping the biggest U.S. conglomerate together, and laid out a precedent on share buybacks that will offer some flexibility.