In the past, Buffett has amassed an amazing record at choosing portfolio managers. His picks have included Bill Ruane, Walter Schloss, Charlie Munger, and Lou Simpson, just to name a few. This should leave the shareholders of Berkshire Hathaway feeling much better about the future capital allocation prospects of the company as well as the probability of reduced risk given that the responsibility will be spread out among several individuals.
In addition, there are three candidates for the Chief Executive Officer job, who will be responsible for overseeing the operating subsidiaries and working with the CEO and Presidents of each of these wholly owned companies.
