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The Journal Gazette

Friday, May 03, 2013 9:10 am

Warren Buffett reassures investors on succession

The Associated Press

Warren Buffett says investors shouldn't worry about his successor, just as he isn't concerned about who will next lead the companies in which he invests billions of dollars.

The 82-year-old chairman and CEO of Berkshire Hathaway talked about succession planning in interview on the Fox Business Network.

Berkshire has billions invested in the stock of Coca-Cola, Wells Fargo and IBM, and Buffett says he has no idea who the next CEOs will be.

Buffett says Berkshire's board knows who it would pick as CEO if he died tonight, but the top candidates could change over time.

Buffett has no plans to retire.