Relax: Warren Buffett Still Isn’t Revealing His Successor
Fans of Warren Buffett need not worry that the chair, president, and CEO of Berkshire Hathaway (NYSE:BRK.A) (NYSE:BRK.B) will be going anywhere any time soon — because he isn’t. Although he doesn’t have much to say about the Alibaba IPO, he had a lot to tell Fox Business about his successor.
“Well, the candidates are all internal,” Buffett told Fox Business. “And I’ve said that they are male at the present time, although that would not necessarily be the situation, in the future.” Buffett told CNBC on Monday that he was impressed with General Motors (NYSE:GM) CEO Mary Barra when he met her this past fall at a conference.
Since Buffett’s Berkshire Hathaway owns 40 million shares of General Motors, and he said that he is open to a female successor, Barra may be on his radar. She has been said by many to be handling the current GM recall crisis, and seems to have the leadership qualifications for such a feat. However, Buffett would have some expectations for his successor regardless of sex.
“Now, they’ll do things their own way. And they should. But we have a distinct culture. And we set our economic principles in the back of the annual report,” Buffett told Fox Business. “They haven’t changed, virtually, for 30 years. And we’re a certain type of business. That’s not the only way to run things, but it is the way we run things at Berkshire. And I can’t imagine a successor changing that in a material way.”