Buffett says his company won't change after him

Buffett says Berkshire Hathaway's employees will keep firm moving forward after his death

Associated Press

OMAHA, Neb. (AP) -- Billionaire Warren Buffett says he spends plenty of time thinking about the future of his company after he is gone.

But the 82-year-old investor told Berkshire Hathaway shareholders Saturday that he's confident that the conglomerate will continue to thrive.

Buffett says the leaders of Berkshire's roughly 80 subsidiaries and all the operating companies would reject a leader that tried to change the way the Omaha-based company works.

Buffett leads Berkshire with a tiny staff of roughly two dozen at its headquarters, and he largely lets the CEOs of all Berkshire's subsidiaries make all the operating decisions.

Buffett says Berkshire's board knows who it would pick as CEO if he died tonight, but the top candidates could change over time.

Buffett has no plans to retire.

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