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In Berkshire Hathaway's once-a-year shareholder letter dated February 25, 2012, Buffett explained that his successor as CEO were selected internally although not named publicly. Though the intent of this concept was to bolster confidence inside the Management of the "Buffett-significantly less Berkshire", critics have observed this technique of selecting a successor without having a concrete exit 메이저사이트 technique to the sitting down CEO often leaves an organization with less long-lasting options, although executing minimal to relaxed shareholder concern.[37]