Buffett said shareholders shouldn’t worry about the future of the company after Vice Chairman Greg Abel takes over because he will do a great job and Berkshire will still follow the same model of allowing its subsidiaries to largely run themselves while looking for other companies to buy with the substantial cash reserves it keeps on hand at all times.
“The problem for our board of directors is the day I’m not around and Greg’s running it, I am not giving him some envelope that tells him what to do next,” Buffett said. But Abel and Berkshire will still be ready to say within minutes whether they are interested in an acquisition and have the resources to do it.
This story is from the April 14, 2023 edition of AppleMagazine.
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This story is from the April 14, 2023 edition of AppleMagazine.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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