Howard Buffett on Berkshire Generational Gap and Succession

[Guest ValueCarl]

Howard Buffett, the Berkshire Hathaway Inc. director and potential successor to his father Warren Buffett as chairman, said he doesn’t expect a third generation of the family to lead the firm.

 

“We all go out and do the things that we want to do and the things we think we can do best,” Howard Buffett, 55, said yesterday in an interview at a World Food Prize conference in Des Moines, Iowa. “It’s very unusual to have a second or third generation that really are the best to fit into something that you’ve created much earlier.”

 

Howard is the second of Warren Buffett’s three children and the only one on Berkshire’s board. Asked if the family’s next generation had a place at Berkshire, Howard Buffett said, “probably not.” His son, Howard W. Buffett, has an agriculture-related job for the U.S. Department of Defense.

 

http://www.bloomberg.com/news/2010-10-14/step-out-of-that-ferrari-and-ask-am-i-a-corvette-guy-jason-h-harper.html

[Guest]

I wouldn't expect him to lead, but I do hope he stays on the board to help preserve the culture.

[Guest ValueCarl]

You know, there might be another prerequisite for Buffett fans looking to emulate His Greatness going forward.

 

That being, a man's ability to be oversexed if he's ever going to be like him! After all, there is a crude military term for what this world seems to be all about! For the record, it's not "Big Bang" theory either.  :-\

 

“I checked with Howie; he told me CTB was an absolute first-class company,” Buffett said in remarks posted on CTB’s website. “Howie would rather spend an evening on a tractor in the field than a date with Angelina Jolie, which is not true of all members of the family, but that’s true of Howie.”

 

Angelina Jolie, Shakira

 

“Angelina never forgot that,” said Howard Buffett, whose book, “Fragile: The Human Condition,” includes testimonials from Irish rocker Bono and pop singer and friend Shakira.