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Buffett States the Obvious - His Successor Is Not a 28-Year-Old

June 25, 2013 | About:
Holly LaFon

Holly LaFon

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From the Omaha World Herald:

Sometimes reporters get a bit ahead of the facts.

Last week's item following up on a Wall Street Journal profile of Warren Buffett's financial assistant Tracy Britt stretched toward the question of whether she might, someday, succeed him as CEO of Berkshire Hathaway Inc. Seemed like the logical question to explore, as others have done in print and online.

But not exactly, Buffett said in an email (relayed from his computer-less office through his assistant, Debbie Bosanek).

“I hope these facts put some unwarranted speculation to rest,” Buffett said.

Namely:

>> Britt's office is a ways down the hall, not next to his, as the Journal article said. The office sequence, in footage away from Buffett's corner office, is Bosanek, Todd Combs, Britt and Ted Weschler. Combs and Weschler manage some of Berkshire's investments.

Buffett calls Todd, Tracy and Ted “the T's.” He said Bosanek's office will remain next to his “as long as the two of us are around.”

>> Although Britt applied for a job with Berkshire after college and delivered a basket of corn and tomatoes to the Omaha headquarters, Buffett didn't hire her right away. She worked for Fidelity Investments after college, and Buffett hired her last December to work on a financial transaction. “I decided I needed her and hired her away from Fidelity,” he said. “It was a great decision, as were the decisions to hire Todd and Ted.”

Continue reading here.


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