Warren Buffett has no plans yet to step away from his Berkshire Hathaway Inc., but he does plan to give two top lieutenants a greater voice.
At Berkshire’s annual meeting in May, shareholders will be able to submit questions to be answered by Ajit Jain or Greg Abel, Berkshire vice chairmen who are considered contenders to someday replace Buffett. While last year’s meeting was still dominated by Buffett, Berkshire’s chief executive officer and chairman, and his longtime business partner, Charlie Munger, a few questions were answered by Jain and Abel.
“They are outstanding individuals, both as managers and as human beings, and you should hear more from them,” Buffett, 89, said in his annual letter to shareholders, released Saturday.
Buffett spent a portion of his annual letter reassuring shareholders about the future of the company once it’s no longer run by the billionaire investor and Munger, who turned 96 this year. Buffett’s confidence, he said, stems from Berkshire’s top managers, the directors who will serve as “guardians” of the culture and the structure of his sprawling conglomerate.
“Berkshire shareholders need not worry: Your company is 100% prepared for our departure,” Buffett said.
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