Berkshire plans for life without Buffett
Berkshire Hathaway Inc. expanded its succession plan for Warren Buffett today, saying Virginia fund manager Ted Weschler will join the company early next year to help oversee its investments. Berkshire said Weschler and Todd Combs, who joined the company last year, would manage its entire equity and debt portfolio after Buffett retires, possibly aided by a third manager. The third manager has not yet been named. For a time Combs and Weschler will run smaller portions of Berkshire’s stock holdings. Berkshire’s equity portfolio totaled $52.36 billion as of June 30, according to a Securities and Exchange Commission filing, Reuters said.