Berkshire Hathaway Inc. eliminated language from its annual filing to securities regulators specifying how many candidates the board has to eventually replace 83-year-old Chief Executive Officer Warren Buffett.
Bio-Rad Laboratories Inc., a maker of medical screening and research equipment, rose the most in more than three years on speculation the family-run company may be open to a sale after the death of its founder.
HJ Heinz Co.’s longtime leader Bill Johnson stood in the Veranda ballroom at the Four Seasons Hotel San Francisco, addressing the ketchup maker’s top 50 executives for the last time. Around the corner in a smaller room, his successor as chief executive officer, Bernardo Hees, waited to tell some of the same managers whether they still had jobs.
Warren Buffett’s bet on Bank of America Corp. and a more-generous buyback plan helped his Berkshire Hathaway Inc. beat the Standard & Poor’s 500 Index in a year when he didn’t make a major acquisition.