Berkshire-Hathaway’s Post Warren Buffett Management Plans

Renowned investor Warren Buffett sat down recently for an in-depth interview with CBS, a spot that will be aired as part of the network’s “60 Minutes” episode next Sunday. Buffett spoke about the future leadership plans of his Berkshire Hathaway conglomerate, which is very much up in the air with Buffett having turned 81 this year. Buffett indicated that he would be replaced as chairman of Berkshire by his son Howard, upon his death, but also noted that no member of his family wanted to be considered for the role of chief executive of the company.

Buffett indicated that his role as CEO, when he steps down, will be filled by a CEO working together with either three or four investment managers, each responsible for their own portions of Berkshire’s holdings. Buffett has been considering what role his son will play in the company for some time, and discussed the issue at Berkshire’s latest annual meeting. “It is certainly my hope that Howie succeeds me as Chairman, but the CEO job he has never had any interest in having,” Warren Buffett said, adding: “When people think of my successor, they are thinking of who will be CEO. No [family] member has ever wanted to be or has been considered for that.”

Howard Buffett is a farmer by trade, but does have management experience through his positions on the Berkshire board of directors and running a foundation that helps farmers in emerging countries.