Buffett: Berkshire Successor Lined Up

    Warren Buffett, chairman and chief executive officer of Berkshire Hathaway Inc., speaks at a meeting with insurance customers in New Delhi, India, on Friday, March 25, 2011. Buffett, the billionaire who urged Congress in 2009 to guard against inflation, said investors should avoid long-term fixed-income bets in U.S. dollars because the currency's purchasing power will decline. Photographer: Pankaj Nangia/Bloomberg via Getty Images *** Local Caption *** Warren Buffett

    Bloomberg / Getty Images

    At last! In an annual letter to Berkshire shareholders on Saturday, Warren Buffett said he had found the person who will succeed him as chief executive of Berkshire Hathaway. But Buffett, 81, is still keeping us guessing as to who the candidate is, declining to give any names. He did emphasize that he and his longtime business partner, Charlie Munger, would both be staying with the company. "We continue to be in excellent health, and we love what we do," Buffet wrote. In announcing he has selected someone to take over, Buffett hopes to reassure investors who have expressed concern over future leadership at Berkshire, causing its shares in the stock market to dip slightly in the last two years.

    Read it at The New York Times