Berkshire board opposes proposal on Warren Buffett successor

New York: Berkshire Hathaway's board of directors is opposing a shareholder proposal the company have a written policy to ease the eventual transition for the replacement of chief executive officer Warren Buffett.

Buffett had said last month that the Omaha, Nebraska-based company had identified his successor, without publicly disclosing the executive.

"The board's judgment as to the most capable successor could change over time and it would be highly unusual for a public company to name a successor for its CEO prior to either the incumbent leaving that position or to the establishment of a specific date for the CEO to relinquish the position," the company said on Friday in a regulatory filing.