"With Berkshire beating the S&P 500 in the vast majority of its years as a publicly-traded entity, and a solid succession plan in place which will ensure the longevity of this incredible bastion of capitalism, those who own Berkshire stock may not want to consider selling before the end of the year ahead of this key transition."
"Buffett has attempted in recent years to quell concerns around his eventual retirement or demise by putting together a succession plan. Of course, only so much of this plan has been released to the public. But in recent years, he's made it clear that Greg Abel would be his successor, with his other lieutenants largely expected to stick with the company."
"Now, that hans't necessarily gone to plan. Todd Combs recently accepted a top job as an advisor to JPMorgan's ( NYSE:JPM) CEO Jamie Dimon, and the company's CFO and head of its Geico insurance business have changed as well. But the reality is that even as some of the company's lieutenants rotate out of the structure, Buffett has endeavored to build this business in a way that makes individuals important to its success, but not irreplaceable."
Warren Buffett will leave as CEO of Berkshire Hathaway (NYSE:BRK-B) at the end of this year. Buffett and his team have built a world-class company with exposure to high-quality, recession-resistant assets. Berkshire has outperformed the S&P 500 in the vast majority of its publicly-traded years. A succession plan has identified Greg Abel as successor and aims to ensure company longevity. Several senior roles have changed, including Todd Combs moving to an advisory role at JPMorgan and turnover in the CFO and Geico leadership. The company structure is designed so individuals are important but not irreplaceable. A major investment has been made in Alphabet (NASDAQ:GOOG).
Read at 24/7 Wall St.
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