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Warren Buffett divulges Berkshire Hathaway succession plan to CNBC

In this AP file photo from May 2016, Berkshire Hathaway Chairman and CEO Warren Buffett watches...
In this AP file photo from May 2016, Berkshire Hathaway Chairman and CEO Warren Buffett watches Microsoft co-founder Bill Gates, left, play bridge outside the Borsheims jewelry store, a Berkshire Hathaway subsidiary, in Omaha.(WIBW)
Published: May. 3, 2021 at 11:59 AM CDT
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(WOWT) - After a hint was dropped during Berkshire Hathaway’s annual meeting over the weekend, Warren Buffett confirmed his succession plans for the company.

In answering a question about the future of the company during a session at the meeting, Berkshire Vice Chairman Charlie Munger said that “Greg will keep the culture.”

Those in the know caught the mention, presuming he meant Greg Abel, one of two vice chairmen B-H installed about three years ago. Buffett then confirmed the news to CNBC.

“The directors are in agreement that if something were to happen to me tonight, it would be Greg who’d take over tomorrow morning,” said Buffett, 90, to CNBC in a report posted Monday morning. “If, heaven forbid, anything happened to Greg tonight, then it would be Ajit.”

According to CNBC, Ajit Jain, who leads Berkshire’s insurance operations, and Abel, who runs all other B-H operations, had both been logical choices for the CEO succession since their promotions to vice chairmen in 2018.

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