Warren Buffett has chosen successor, annual letter reveals
Investment tycoon Warren Buffett revealed that he has chosen his successor in what was his 50th annual letter to shareholders.
The 84-year-old business magnate, who is the chief execuitve officer (CEO) and chairman of Berkshire Hathaway, said the company's next leader would be someone able to avoid the "ABCs of business decay - arrogance, bureaucracy and complacency".
"Both the board and I believe we now have the right person to succeed me as CEO - a successor ready to assume the job the after I die or step down," he revealed.
A companion piece by vice chairman Charlie Munger gave some slightly indication that Ajit Jain, the group's insurance chief, and Greg Abel, its head of utilities, were two of those most likely to be unveiled as Buffett's replacement.