Image via WikipediaHoward Buffett, the Berkshire Hathaway Inc. director and potential successor to his father Warren Buffett as chairman, said he doesn’t expect a third generation of the family to lead the firm.
“We all go out and do the things that we want to do and the things we think we can do best,” Howard Buffett, 55, said yesterday in an interview at a World Food Prize conference in Des Moines, Iowa. “It’s very unusual to have a second or third generation that really are the best to fit into something that you’ve created much earlier.”
Warren Buffett, after building Berkshire through four decades as chairman and chief executive officer, has made succession plans for after his retirement or death. The company board will split Buffett’s duties among more than one manager. Warren Buffett said in 2006 that his son Howard, a farmer and author, would safeguard Berkshire as non-executive chairman.
“My dad has said to me what he would expect, and I think I can do it,” Howard Buffett said. “My job is to make sure Berkshire doesn’t change. And that’s about all he’s said to me.”
Howard is the second of Warren Buffett’s three children and the only one on Berkshire’s board. Asked if the family’s next generation had a place at Berkshire, Howard Buffett said, “probably not.” His son, Howard W. Buffett, has an agriculture-related job for the U.S. Department of Defense.
No comments:
Post a Comment