Buffett discusses the unthinkable... 'succession'

The 79-year-old Buffett, who has developed legions of adoring shareholders, has run Berkshire for 45 years. He has transformed it from an ailing textile mill into a multi-billion conglomerate, selling things such as car insurance, ice cream, paint and underwear. As Buffett sat on a stage, eating peanut brittle and fudge, Reuters reports the 'Sage of Omaha' was reassuring shareholders he is healthy, despite a diet he said drives his doctor "nuts". Buffett says Berkshire's succession plans are well prepared. His position would be split, with a chief executive and perhaps three or four c...