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VOL. 39 | NO. 9 | Friday, February 27, 2015

Buffett declines to clarify plan to eventually replace him

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OMAHA, Neb. (AP) — Billionaire Warren Buffett won't end speculation about his eventual successor, but he reiterated that Berkshire Hathaway's board has a plan in place.

Buffett appeared on CNBC Monday after releasing his annual letter to Berkshire shareholders over the weekend.

Berkshire's Vice Chairman Charlie Munger spurred renewed interest in the replacement for the 84-year-old Buffett over the weekend because he singled out two candidates in his own letter to shareholders.

Munger said Berkshire's reinsurance chief Ajit Jain and the head of its utility company, Greg Abel, would both be excellent choices to replace Buffett.

Buffett says both Jain and Abel would play key roles at the company after he is gone, but he doesn't believe they are jockeying to be CEO. He says Jain and Abel don't know who the successor is.

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