The $348bn question for Warren Buffett’s successor

SURPRISING PEOPLE at the age of 94 is no mean feat. Warren Buffett has retained that capacity. As Berkshire Hathaway’s annual shareholder meeting on May 3rd drew to a close, Mr Buffett announced that he would be stepping down as CEO of the sprawling conglomerate. The move will come at the end of the year, after six decades in charge. Mr Buffett had been preparing for his own departure. But he said he did not give most of Berkshire’s directors advance notice of his announcement. Nor did he tell Greg Abel, his presumptive successor.