Maybe the OP thought this was announcing Buffett's successor or that Buffett himself was stepping down?

I guess the one big thing is that Todd Combs is out at Geico which is pretty bad news for the firm as he was tremendous at running Geico and helping Buffett and Munger in an investment capacity.

Who ever gets the new CIO role at Berkshire is going to have a field day. They currently hold about $382B in cash.

You can invest in alot with a 1/3 of Trillion dollars and you can outright buy the vast majority of companies with a bank roll that big.

My theory is that Buffett is hoping for one last large crash before he retires so he can go shopping for distressed companies.

With so many long term people announcing they will be leaving within the next 2 years this announcement sets the table nicely for a new CEO(probably Greg Abel) and new CIO to pick their team.

He has been a role model in many areas of my life and it hurts to see how his best friends and wife died already. would have loved seen Charlie reach 100 years old age.

Visited Buffet's home in Omaha and accepted a well lived life can be one following your own set of values, specially when they do not conform to the normal.

I know more about Buffet and Munger lifes than my own grandparents whom died relatively young in my childhood. Cannot explain how anything related to Charlie and Warren had hit me, I think they really feel like close wise elders in my spirit

Everybody always talks about Buffet and late Charlie Munger, but they also knew how to hire talents like Todd Combs and Ted Weschler.