By SERENA NG
Berkshire Hathaway Inc. has identified a successor to Warren Buffett as chief executive, Mr. Buffett said Saturday in his annual letter to shareholders.
Mr. Buffett didn't name the candidate. The 81-year-old Mr. Buffett has run the Omaha, Neb., company for nearly half a century and has built it into a conglomerate with interests in railroads, retail and utilities as well as a closely watched portfolio of publicly traded stocks.
In his 22-page letter accompanying his company's annual report, Mr. Buffett said he still has no plans to step down from his multiple roles as Berkshire's chairman, chief executive and chief investment officer. Mr. Buffett said in the letter that he is in "excellent health" and isn't "going anywhere," and that readers shouldn't take the comments about the succession plan as a sign the next CEO will take over any time soon...read more.
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