Getting your player ready...
OMAHA — Warren Buffett tried to reassure his shareholders Saturday that Berkshire Hathaway will be fine once he is gone, but the 77-year-old billionaire offered few new details of the company’s succession plan.
Berkshire vice chairman Charlie Munger might have done more to reassure the 31,000 shareholders at the company’s annual meeting.
“Well, we still have a rising young man here named Warren Buffett,” Munger said, to which Buffett joked that everyone seems young to the 84-year-old Munger.
In his letter to shareholders, Buffett said the company’s board has three internal candidates for CEO and four external candidates who could take over managing the company’s $75 billion stock portfolio and $35.6 billion cash.
