Buffett: Berkshire Successor Lined Up

At last! In an annual letter to Berkshire shareholders on Saturday, Warren Buffett said he had found the person who will succeed him as chief executive of Berkshire Hathaway. But Buffett, 81, is still keeping us guessing as to who the candidate is, declining to give any names. He did emphasize that he and his longtime business partner, Charlie Munger, would both be staying with the company. "We continue to be in excellent health, and we love what we do," Buffet wrote. In announcing he has selected someone to take over, Buffett hopes to reassure investors who have expressed concern over future leadership at Berkshire, causing its shares in the stock market to dip slightly in the last two years.