Berkshire Meeting: More on the Succession Question

Features Dow Jones Newswires

From the floor comes a question about whether 3G's Jorge Paulo Lemann, who Mr. Buffett has praised repeatedly over the years, could become a Berkshire board member...or even its next CEO.

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"There's a chance we will do more and perhaps even bigger things together" on the deals front, says Mr. Buffett.

But he says there isn't likely to be any turnover on the board any time soon, and that adding him might create complications, given their other business ties.

And he shoots down the successor idea. "There's a very high possibility" that his successor is someone who has worked at Berkshire for awhile, reiterating what he's said many times before. Mr. Buffett does add that the person might take over even while he's still alive.

Click here to see the full live coverage of Warren Buffett at Berkshire Hathaway's annual meeting:

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(END) Dow Jones Newswires

May 06, 2017 15:35 ET (19:35 GMT)