Buffett: My Succession Plans Have Not Changed
By: Berkshire Hathaway Chairman and CEO Warren Buffett said Berkshire Hathaway's succession plans have not changed, despite his diagnosis of stage 1 prostate cancer.
Buffett put out a release informing shareholders of his condition after the market's close on Tuesday. In the release, Buffett said a CAT scan, bone scan and an MRI all showed no cancer elsewhere in his body, adding “I feel great — as if I were in my normal excellent health — and my energy level is 100 percent."
In an interview with CNBC in late February, Buffett said Berkshire's board had chosen his successor, but that the individual was not aware he had been chosen as the next CEO of the company.
On Tuesday, Buffett said that nothing had changed and the chosen successor was still unaware of the board's decision.
Buffett said he and his doctors have decided to begin a two-month treatment of radiation beginning in mid-July.
The timing was chosen to keep from interfering with previous commitments Buffett has made, including travel for Allen & Co.'s annual Sun Valley retreat, which takes place in early July.
When he is undergoing radiation, he won't be able to travel because his treatments will take place daily.