When should a company start thinking about a CEO succession plan?

Despite his fondness for Cherry Coke and Oreos, Warren Buffett is fine. At 87, he’s still going strong. He also says he’s not going anywhere. Still, Buffett’s holding company, Berkshire Hathaway, has promoted two of its executives and put them on the board. That instantly makes them front-runners to succeed Buffett. With that, Berkshire gets points for doing succession right.  

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