Berkshire Hathaway Considers a New Candidate to Succeed Warren Buffett
Berkshire Hathaway (BRK-A) has expanded its list of potential Warren Buffett successors to four unnamed candidates from three, according to a filing with the Securities and Exchange Commission on Monday.
The 80-year-old Buffett hasn't announced any plans to retire from his position as CEO and chairman, but last October hired 39-year-old Todd Anthony Combs to manage a "significant" part of Berkshire's investment portfolio.
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"Berkshire's Board has agreed on a replacement for Mr. Buffett should a replacement be needed currently," according to Monday's filing. "The Board continually monitors this risk and could alter its current view regarding a replacement for Mr. Buffett in the future."
The Associated Press reported speculation that the new candidate is Matt Rose, CEO of Burlington Northern Santa Fe, which Berkshire bought last year. He joins David Sokol, chairman of NetJets and MidAmerican Energy, Berkshire reinsurance unit head Ajit Jain, MidAmerican CEO Greg Abel and Geico CEO Tony Nicely on the rumored short list of candidates who may replace Buffett, according to the AP.
Last month, Buffett said he plans to step down as a board member of The Washington Post(WPO). He has served on the board since 1974, with a break of eight years, when he was a director of Capital Cities.
Forbes last year listed the Berkshire chairman as the world's third-wealthiest person, with an estimated financial worth of about $47 billion.
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