Billionaire Warren Buffett says he doesn’t think investors should worry about his successor (WashingtonPost)
Warren Buffett says investors shouldn’t worry about his successor, just as he isn’t concerned about who will next lead the companies in which he invests billions of dollars. The 82-year-old chairman and CEO of Berkshire Hathaway Inc. (NYSE:BRK.A) talked about succession planning in interview on the Fox Business Network. Berkshire has billions invested in the stock of The Coca-Cola Company (NYSE:KO), Wells Fargo & Company (NYSE:WFC) and International Business Machines Corp. (NYSE:IBM), and Buffett says he has no idea who the next CEOs will be. Buffett says Berkshire’s board knows who it would pick as CEO if he died tonight, but the top candidates could change over time. Buffett has no plans to retire.
Buffett backs JPMorgan chief’s dual roles (iOL)
Warren Buffett, who has said he personally owns shares of JPMorgan Chase & Co. (NYSE:JPM), is backing the bank’s Chairman and Chief Executive Officer Jamie Dimon as shareholders vote this month on whether to split his roles. “I’m 100 percent for Jamie,” Buffett told Bloomberg Television’s Betty Liu yesterday in Omaha, Nebraska. “I couldn’t think of a better chairman.” Calls for Dimon, 57, to relinquish the chairmanship have mounted since New York-based JPMorgan Chase & Co. (NYSE:JPM) disclosed risk-control lapses on derivatives bets last year that fueled more than $6.2 billion of losses. In March, the company’s board urged investors to vote against naming a separate chairman at the May 21 meeting, saying that Dimon’s dual role remains the “most effective leadership model.”
Buffett name going on Omaha cancer center (TheIndependent)
The Buffett name is going on a new cancer center being built in Omaha, thanks to a relative of billionaire Warren Buffett. If the University of Nebraska Regents agree on the name at their June meeting, the center will be called the Fred & Pamela Buffett Cancer Center, owing to a donation by Pamela Buffett through her foundation. She is the widow of Warren Buffett’s first cousin Fred “Fritz” Buffett. He died in 1997 after fighting kidney cancer. The University of Nebraska Medical Center and The Nebraska Medical Center said Friday that the exact amount of the donation won’t be disclosed, but UNMC Chancellor Harold Maurer called it a “monumental gift” for the $370 million project. The center will include a 98-laboratory research tower.