Warren Buffett says Berkshire can ‘ward off any attempts to change the culture’ when he’s gone

Berkshire Hathaway Inc. Chairman and CEO Warren Buffett said the company would be able to preserve its culture long after he’s left the scene. Responding to a question at Berkshire’s annual shareholder meeting, Buffett, 91, said Berkshire has “a culture that a) has worked and b) has the shares and shareholders that will carry it a long way.” While there would inevitably be intense speculation about the company’s path in his absence, the company’s structure means “nobody can take us over for a long, long time, and we would hope that maybe the superiority of this culture might be better understood” as time passes. Future generations of managers will be “custodians of a culture that’s embedded,” he said. “We have got the directors and share ownership…and the size that can ward off any attempts to change the culture,” he said.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.