Happy Birthday to Apple Inc. (AAPL)’s Steve Jobs

Page 2 of 2

Founder Still in Charge

There are many companies whose founders are still in charge. What will happen to them when they leave?

One of the world’s richest men and most successful investors in history is Warren Buffett. He took control of Berkshire Hathaway Inc. (NYSE:BRK.B) in 1962 when he bought a majority stake in a business that was primarily a textile manufacturer in New England. It has since morphed into a holding company for many diverse businesses, including insurance, railroads, newspapers and manufacturing. It is presently the 5th most valuable company in the world (4th in the U.S.) with a market cap of $250 billion.

Mr. Buffett, 82 years old, and Berkshire have created a CEO succession plan. The company announced last year that a new leader has been chosen but didn’t publicly name the individual. Whoever takes over has big shoes to fill.

So can Apple Inc. (NASDAQ:AAPL) perform as well as it has before? Can it perform as well as other companies who have lost their founder? If history serves as a guide, it is certainly possible.

The article Happy Birthday to Steve Jobs originally appeared on Fool.com and is written by Mark Morelli.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Page 2 of 2