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.
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