When legendary investor Warren Buffett is looking to fill roles at his $500 billion conglomerate Berkshire Hathaway, he isn't searching for fancy resumes.
"I don't care where someone went to school, and that never caused me to hire anyone," Buffett tells The Wall Street Journal in 2006.
Instead, he wants employees who share three traits: "You look for intelligence, you look for energy and you look for integrity," he tells Nebraska Business magazine. Of those three, he says integrity is the most important.
Wednesday, Buffett appointed current Berkshire Hathaway executives Gregory Abel, 55, and Ajit Jain, 66, to the company's board as vice chairs — the same title Buffett's longtime partner Charlie Munger holds — and gave indication that one may eventually land as the leader of the company.
The news is "part of a movement to succession over time," Buffett tells CNBC in an interview.
So what does Buffett see in Jain and Abel?
Interestingly, the two seem to be opposites in some ways. Jain, who is responsible for leading Berkshire's reinsurance operations, has become known for taking calculated risks with big pay offs, while Abel, chairman and CEO of Berkshire Hathaway Energy rarely gives press interviews and has quietly developed the company's utility businesses in Des Moines, Iowa.
However, they also share similarities with their boss, Buffett.
"[Jain and Abel] take a rational, non-emotional approach to making business decisions, selecting managers and are trustworthy," Lawrence Cunningham, author of "Berkshire Beyond Buffett: The Enduring Value of Values," tells USA Today.
Here's what you need to know about both executives.