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Journalism of Courage
Warren Buffett told investors on Saturday the Berkshire Hathaway board has identified his successor,easing some shareholder concern about the future of the company once the famed 81-year-old investor steps down as chief executive.
Buffett did not disclose who the next CEO will be in his annual letter to Berkshire shareholders.
Although the successors name is not known,the most common guess among Berkshire watchers is Ajit Jain,who runs the reinsurance business. As usual,Buffett and his partner,Charlie Munger,were lavish in their praise for him. Charlie would gladly trade me for a second Ajit. Alas,there is none, Buffett said. In addition to Jain,four other names crop up: Burlington Northern chief Matthew Rose,Geico auto insurance boss Tony Nicely,utility company MidAmericans Greg Abel and reinsurer General Res chief Tad Montross.
