Yahoo Finance Video
For decades, succession plans have been a big question for Berkshire Hathaway (BRK-A, BRK-B) investors, especially given the high bar set by Warren Buffett. The death of the company's vice chairman, Charlie Munger, has again brought some of those concerns to the forefront. Who will take over? How will the company fare after years of Buffett's leadership? However, as Morningstar Senior Stock Analyst Greggory Warren explains to Yahoo Finance Live, Buffett has made changes at the company that could make the transition easier for whomever takes his place. Warren expounds on the current structure of Berkshire Hathaway: "The fact that there are so few people at corporate and that Buffett's day-to-day duties have really just involved looking at potential capital allocation decisions, he spends far more time reading through Ks and Qs than he does sort of worrying about how one plant is running or another operation is running. He's left that down to the managers down the line, and that's kind of the beauty of the business model right now. It's sort of self-running and there's not a whole lot that the corporate is going to need to do going forward even without Buffet at the helm." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.