Warren Buffett’s secret to hiring great managers

Warren Buffett, chairman and chief executive officer of Berkshire Hathaway Inc., laughs while playing cards on the sidelines the Berkshire Hathaway annual shareholders meeting in Omaha, Nebraska, U.S., on Sunday, May 1, 2016. Dozens of Berkshire Hathaway subsidiaries will be showing off their products as Chief Executive Officer Warren Buffett hosts the company's annual meeting. Photographer: Daniel Acker/Bloomberg via Getty Images (Credit: Daniel Acker—Bloomberg/Getty Images)

Warren Buffett, the billionaire CEO of legendary holding company Berkshire Hathaway, has long maintained that the best kinds of leaders are those who commit to mentoring their future successors—and those with a firm sense of direction.

“You have to have a clear vision of where you’re going, so that you can get others to follow you,” Buffett told Fortune’s Susie Gharib at the Berkshire Hathaway Annual Shareholder Meeting in 2015. He told Gharib that Berkshire Hathaway has “a ton” of next-generation leaders. “There’s no shortage.”