Berkshire Picks Successor for Warren Buffett

But CEO doesn't plan to step down anytime soon
By John Johnson,  Newser Staff
Posted Feb 25, 2012 9:35 AM CST
Warren Buffett, 81, says he isn't leaving his post at Berkshire Hathaway anytime soon.   (AP Photo/Shuji Kajiyama)

(Newser) – The big news out of Warren Buffett's annual letter to Berkshire Hathaway shareholders is that he's finally picked a successor, reports the Wall Street Journal. He's just not saying who it is. Buffett, 81, also wrote that he is in "excellent health" and "isn't going anywhere" anytime soon. The lack of a definitive successor had been a worry for investors the last few years, notes the Journal. Buffett said the company has two back-up options if choice No. 1 doesn't take the job. Read the letter here. (Read more Warren Buffett stories.)

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