Warren Buffett, chief executive officer of Berkshire Hathaway Inc. for more than four decades, said the board has picked his eventual replacement. Buffett didn’t identify the choice in his annual letter to shareholders Feb. 25, saying instead that directors were “enthusiastic” and have had “a great deal of exposure” to the person designated to take over as CEO. Buffett, 81, didn’t specify a timeline for the switch. Dominic Chu reports on Bloomberg Television’s “InsideTrack.”