Buffett and a Potential Successor Reassure Shareholders on Berkshire's Future
Many people own shares of Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) as the ultimate safe-haven stock that should maintain and grow its value well into the future. However, with Warren Buffett turning 90 this year, and Vice Chairman Charlie Munger already at 96, some may wonder if Berkshire might lose its luster after they are no longer handling capital allocation.
However, this year's virtual annual meeting featured one of Buffett's likely successors -- Greg Abel, who was promoted to vice chairman of non-insurance operations back in January 2018. During the five-hour-long annual meeting, both Abel and Buffett shed some light on how Berkshire's culture and competitive advantages will be maintained well into the future. In fact, Buffett believes his successors will do far better than he and Munger have done.
Here are the highlights on important succession questions from this year's annual meeting.
Source Fool.com
