Buffett Says Next Berkshire CEO Must Fight Arrogance, Decay
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Warren Buffett told shareholders what they should expect from his successor without telling them who it will be.
The next Berkshire Hathaway Inc. chief executive officer will need “the ability to fight off the ABCs of business decay, which are arrogance, bureaucracy and complacency,” Buffett, 84, wrote in his annual letter to Berkshire shareholders posted online Saturday. “When these corporate cancers metastasize, even the strongest of companies can falter.”