Warren Buffett’s Successor: the Hows and Whys
It may have escaped your attention but someone just landed a gig filling some rather large shoes…
The guy’s name is Todd Combs. He’s a little-known 39-year-old fund manager and father of three, who lives in Darien, Connecticut, USA. How did he get the job?
He applied for it and had an interview. Really.
WSJ: Mr. Combs was one of hundreds of people who responded to an unconventional “help wanted” request Mr. Buffett made in early 2007. But his initial inquiry didn’t distinguish itself.
Undaunted, the low-key father of three, who lives in Darien, Conn., recently sent another letter to Berkshire Vice Chairman Charles Munger asking for a meeting. Mr. Munger said in an interview that he gets “hundreds” of such requests each year, but “something in his request piqued my interest.”
And why did he get the job? According to Mr Buffett:
He and Mr. Munger arrived at the decision based on the same kind of “gut check” they make with acquisitions of companies.
“He is a 100% fit for our culture,” Mr. Buffett says. “I can define the culture while I am here, but we want a culture that is so embedded that it doesn’t get tested when the founder of it isn’t around. Todd is perfect in that respect.”
Simple…but not easy.
