Berkshire Hathaway’s future is ‘quite rosy’ even without Warren Buffett – Yahoo Finance

As Warren Buffett is set to take the stage once more at Berkshire Hathaway’s (BRK-A, BRK-B) annual shareholders meeting, it’s only natural that questions around his succession resurface and what that might mean for the future of the company.In conversations with shareholders and Buffett watchers, many believe that the 88-year-old investing legend has built a company and culture that will last long after he is gone.For starters, he’s developed a deep bench of talent when it comes to Berkshire Hathaway’s leadership. In early 2018, Buffett put Ajit Jain in charge of all Berkshire Hathaway’s insurance activities and Greg Abel in charge of all other operations.”These moves were overdue,” Buffett wrote in the annual letter. “Berkshire is now far better managed than when I alone was supervising operations. Ajit and Greg have rare talents, and Berkshire blood flows through their veins.”[Click here for coverage of the 2019 Berkshire Hathaway Shareholders Meeting.] On the investing side, Buffett’s two young lieutenants, Todd Combs and Ted Weschler, each manage $13 billion of Berkshire’s massive $173 billion stock portfolio and have “total discretion” over investment decisions.Lawrence Cunningham, the author of “Berkshire Beyond Buffett,” is confident about the future of the investing and insurance conglomerate because of the talent at Berkshire and its subsidiary companies.
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