How to step into a big boss' shoes
LBS’s Professor Herminia Ibarra offers her views on how Warren Buffet’s successor can rise to the challenge
Speaking to Business Insider when news broke that Warren Buffet had announced his successor to lead Berkshire Hathaway, Professor Herminia Ibarra was quick to point out that his successor will need to use his instincts to make bold, well-judged moves, even as he preserves the decentralized culture that has powered Berkshire’s success.
Succeeding a titan of business after decades at the helm can be a daunting task. Warren Buffett spent 60 years transforming a failing textile mill into a $1 trillion company and all eyes will be on Berkshire Hathaway Energy chairman Greg Abel to see if he can live up to Buffet’s legacy.
According to Professor Ibarra who is an authority on leadership and career transition, Greg Abel would be wise to avoid simply mimicking Buffet’s approach. “No one wants a replica,” Professor Ibarra told Business Insider. “A successor is always chosen for a reason; Abel must understand why he won the succession contest and lead from that strength,” advises Professor Ibarra.
Charles Handy Professor of Organisational Behaviour at London Business School, Professor Ibarra is the author of best-selling books, Act Like a Leader, Think Like a Leader and Working Identity: Unconventional Strategies for Reinventing Your Career.
