Hi,
CNBC's Buffett WAtch posted Potential Buffett Successor Steps Down As Berkshire Utility's CEO. The CEO of Berkshire Hathaway's utility subsidiary MidAmerican Energy Holdings David Sokol, will give up that post at the company's board meeting next month, but will remain chairman.
David Sokol, who is 51 years old, has been "mentioned" as a candidate to become CEO of Berkshire Hathaway when Buffett, now 77, gives up the job, according to an AP. Ajit Jain, who runs Berkshire's insurance operations, Geico's Tony Nicely, and NetJets' Richard Santulli are all in the same category of potential candidates.
In WArren Buffett annual Letter to Shareholders, WArren Buffett mentioned that "we have for some time been well-prepared for CEO succession because we have three outstanding internal candidates. The board knows exactly whom it would pick if I were to become unavailable, either because of death or diminishing abilities."
Warren Buffett had perpare Berkshire Hathaway without him and Berkshire Hathaway should stay fine.
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