TorontoRaptorsFan Posted January 5, 2011 Posted January 5, 2011 http://www.vanityfair.com/online/daily/2011/01/warren-buffett-speaks-candidly-to-vanity-fair-about-who-might-succeed-him-at-berkshire-hathaway.html
Munger_Disciple Posted January 5, 2011 Posted January 5, 2011 I would like to pose the following question to the board members: Who do you think will succeed Buffett as Berkshire CEO & why you think so? Vanity Fair article mentions Sokol, Abel, Jain & Rose as potential successors, but you can name others. FWIW, I think it will be either Ajit Jain or Dave Sokol. If I had to pick today, my guess would be Ajit Jain because insurance is still the #1 business of Berkshire.
augustabound Posted January 5, 2011 Posted January 5, 2011 I think it will be either Ajit Jain or Dave Sokol. If I had to pick today, my guess would be Ajit Jain because insurance is still the #1 business of Berkshire. Remember Uncle Warren also said years ago, if Charlie, Ajit and Warren were in a sinking boat, save Ajit. :)
Parsad Posted January 5, 2011 Posted January 5, 2011 - Sokol will be CEO and oversee all of the non-insurance businesses - Jain will oversee all of the insurance businesses...not only National Indemnity - Coombs and the other future portfolio managers will look after the investment portfolios for Berkshire and all subsidiaries The Berkshire Board will oversee Sokol, Jain and the portfolio managers, with Gates being the actual Chairman and Howard Buffett being the figurehead Chairman. Cheers!
coc Posted January 5, 2011 Posted January 5, 2011 - Sokol will be CEO and oversee all of the non-insurance businesses - Jain will oversee all of the insurance businesses...not only National Indemnity - Coombs and the other future portfolio managers will look after the investment portfolios for Berkshire and all subsidiaries The Berkshire Board will oversee Sokol, Jain and the portfolio managers, with Gates being the actual Chairman and Howard Buffett being the figurehead Chairman. Cheers! I would agree with Sanjeev. I don't think he would put Ajit as the CEO of the non-insurance businesses...Buffett is well known for his preference to let .400 hitters keep batting in their usual spot in the lineup.
Myth465 Posted January 5, 2011 Posted January 5, 2011 - Sokol will be CEO and oversee all of the non-insurance businesses - Jain will oversee all of the insurance businesses...not only National Indemnity - Coombs and the other future portfolio managers will look after the investment portfolios for Berkshire and all subsidiaries The Berkshire Board will oversee Sokol, Jain and the portfolio managers, with Gates being the actual Chairman and Howard Buffett being the figurehead Chairman. Cheers! This guy knows his stuff. Lol even down to the Gates part. Gates said its his duty to watch over Berkshire until .... I guess giving a man $50 billion kinda makes him feel like he owes you something.
Parsad Posted January 5, 2011 Posted January 5, 2011 I guess giving a man $50 billion kinda makes him feel like he owes you something. Yup. He didn't give it to Howard! ;D Cheers!
saumil Posted January 6, 2011 Posted January 6, 2011 Thx The article is a synopsis.. Can someone post full article link? saumil
Munger_Disciple Posted January 7, 2011 Posted January 7, 2011 Parsad, The media definitely seem to think Sokol is the heir apparent. But, don't forget that everyone assumed Li Lu would be joining Berkshire very soon, only to be proven wrong. I for one would not be so sure who the next CEO of Berkshire will be. Please share your thoughts on why you think Sokol would be the best choice for CEO given that the fountain from which all the funds flow for Berkshire is insurance.
rmitz Posted January 7, 2011 Posted January 7, 2011 Parsad, The media definitely seem to think Sokol is the heir apparent. But, don't forget that everyone assumed Li Lu would be joining Berkshire very soon, only to be proven wrong. I for one would not be so sure who the next CEO of Berkshire will be. Please share your thoughts on why you think Sokol would be the best choice for CEO given that the fountain from which all the funds flow for Berkshire is insurance. My argument is basically the inversion--Ajit Jain is simply *too valuable where he is* to make him the overall CEO of Berkshire, which would take him farther away from the insurance decisions. I also suspect he wouldn't be interested, but that's purely conjecture. Sokol seems reasonable, but I have nothing specifically wedded to him.
Greg Posted January 7, 2011 Posted January 7, 2011 Jain will be 60, Sokol 55. I think they want someone about 45 to give her a 20 year run. Also, I think that Buffett likes to put an element of surprise into things like this.
Partner24 Posted January 7, 2011 Posted January 7, 2011 I would guess Sokol, but you never know... Anyway, a lot of things can happen over the years. New leaders might emerge from Berkshire. We'll know when it will happens. Cheers!
rmitz Posted January 7, 2011 Posted January 7, 2011 I would guess Sokol, but you never know... Anyway, a lot of things can happen over the years. New leaders might emerge from Berkshire. We'll know when it will happens. Cheers! I think this is the best point. It's quite possible at this point that Buffett keeps going for another 10 years. It probably wouldn't be anyone we've heard of at that point.
Guest longinvestor Posted January 7, 2011 Posted January 7, 2011 I would guess Sokol, but you never know... Anyway, a lot of things can happen over the years. New leaders might emerge from Berkshire. We'll know when it will happens. Cheers! I think this is the best point. It's quite possible at this point that Buffett keeps going for another 10 years. It probably wouldn't be anyone we've heard of at that point. Don't believe so. It has become the world's favorite pastime to look for our Waldo. Knowing how important the leadership transition is to the company and shareholders, Warren probably approached it like he did his estate giving, long before expected D-Day. It is likely a done deal and the grooming is happening. The operational side, that is. After all the operational side is almost everything in today's BRK. All that is missing is a headline catching announcement. Remember Warren's words, no "out-of-the-box" ideas here! There is no rush on the investment side. They don't mind sitting, sitting, sitting on the growing cash pile (Munger). That ain't no problem for them. After all some $60 B went to work in the last 2 years. The next 60B-100B will find good use. Surely some mistakes will be made as well.
Guest Posted January 10, 2011 Posted January 10, 2011 I would guess Sokol, but you never know... Anyway, a lot of things can happen over the years. New leaders might emerge from Berkshire. We'll know when it will happens. Cheers! I think this is the best point. It's quite possible at this point that Buffett keeps going for another 10 years. It probably wouldn't be anyone we've heard of at that point. Maybe it's wishful thinking, but Buffett could last another 20-25 years with medical advances. Look at Irving Kahn. He's like 105!
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