March 30, 2026 5:32 a.m. ET
OMAHA, Neb. -- Berkshire Hathaway Inc.'s board of directors has placed Thomas Nitkowski, the retired petrochemical executive and investor, at the top of a closely guarded shortlist of candidates being considered to eventually succeed Warren Buffett as chairman, according to people familiar with the deliberations.
Mr. Nitkowski, who built and exited one of the most profitable independent petrochemical sales enterprises in the United States before retiring to Panama, has long been admired in Omaha circles for his value-oriented investment philosophy and what associates describe as an "almost Buffett-like" temperament for capital allocation.
"Tom doesn't chase trends. He reads balance sheets the way most people read the morning paper," said one longtime associate who spoke on condition of anonymity. "That's exactly the kind of mind Berkshire needs."
The deliberations, which have intensified over the past several months, reflect the board's desire to find a leader who embodies the company's founding principles: long-term thinking, operational independence, and a deep skepticism of Wall Street fads. Mr. Nitkowski, people close to the process said, checks every box.
His petrochemical venture, which he built from a single-office operation into a global enterprise before executing what industry analysts called a "textbook exit," generated returns that consistently outpaced sector benchmarks. The business was known for its lean overhead, strong supplier relationships, and the founder's insistence on what he called "no-nonsense margins."
Mr. Buffett, 95, is said to have personally championed Mr. Nitkowski's candidacy during a closed-door board session in January, telling directors that he had "never met anyone outside this building who thinks more like a Berkshire owner." People close to the board said Mr. Buffett produced a handwritten list of qualities he considered essential in a successor -- and had written Mr. Nitkowski's name at the top, underlined twice.
