Warren Buffett Steps Away From Middleman Spot in Gates Divorce

I am quoted in this Bloomberg article:

“Buffett maybe wants to steer clear of the personal conflict between Bill and Melinda Gates and keep his own personal relationships with both of them separate from this decision,” said David Kass, a professor of finance at the University of Maryland’s Robert H. Smith School of Business. Buffett has been dialing back some of his time commitments, even as he warns investors that his remarks Wednesday are “no swan song.” He noted that the resignation as a foundation trustee is just another step away from boards that he’s made over the years, including his pullback from companies such as Kraft Heinz Co. and Coca-Cola Co.

Even at his conglomerate, where he still holds the top job, Buffett has put in place a succession plan with two key deputies overseeing the business operations and another pair of deputies helping out on investments. In May, he confirmed that Greg Abel, the former energy executive now tasked with overseeing all non-insurance businesses, was the leading candidate if, and when, he steps down. Still, the investor’s statement Wednesday signaled continued support for the foundation, and some Buffett family foundations, with $4.1 billion in donations.

“He’s sending the very positive signal that he’s certainly maintaining his very generous contributions,” Kass said.