Warren Buffett

According to the billionaire investor Warren Buffett, Berkshire Hathaway Inc.’s (NYSE:BRK.A) (NYSE:BRK.B) next CEO will be someone who could manage risk and bring his own ideas to make better deals for the company, reports CNBC.

Buffett said:

“We’re not going to have an arts major in charge of Berkshire.”

Warren Buffet today at the annual meeting told his company’s shareholders that the next CEO of the Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B) and his successor will also be given the position of Chief Risk Officer (CRO) in the company, just like him.

When asked about the deals with General Electric Company (NYSE:GE), Goldman Sachs Group, Inc. (NYSE:GS), and Bank of America Corp (NYSE:BAC), Buffett said, deals with these companies create worth quite less in comparison to buying good companies, like Geico.