Berkshire Hathaway will survive Warren Buffett's exit, says Morningstar
BT Online September 9, 2016
Warren Buffett, Chairman and CEO, Berkshire Hathaway may step down to pass the baton to a successor, the company will continue to make good fortunes for its investors, believes an investment research firm Morningstar.
A report by Morningstar Institutional Equity Research on Friday said Buffett's investing conglomerate would remain an "attractive" investment for the foreseeable future, easing investors' concerns that the company may collapse after the 86-year-old Oracle of Omaha moves on.
"While there continues to be plenty of focus on what Berkshire will look like once Buffett (and Charlie Munger) have departed, we think that the groundwork for a successful transition has already been in the works for the past 15 years," reported CNBC quoting analyst Greggory Warren of Morningstar.
While Buffett has not yet made it public who will head the company after his departure, but the most likely candidates are Berkshire's insurance executive Ajit Jain or Greg Abel, who runs Berkshire's utility division.
Ajit Jain belongs to Orissa and has graduated from the Indian Institute of Technology, Kharagpur with a bachelor's degree in mechanical engineering.