Pope Francis's Succession Play: Mastering the Art Like Pope Leo XIV and Warren Buffett

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Pope Francis kept his focus on the bigger picture.

Similar to how Warren Buffett revealed his chosen successor at Berkshire Hathaway last Saturday, the former Pope understood that ensuring continuity required having a sufficient number of aligned cardinals ready to step up. This was essential so that the Vatican could stay adaptive and approachable amid an evolving global landscape.

At the Berkshire Hathaway annual meeting, investment icon Buffett declared his plans to resign from his role as CEO by the end of the year. naming long-time Berkshire executive Greg Abel as the person he wants to succeed him Pope Francis couldn't choose who would follow him, but he took care to have sufficient trusted aides (or cardinals) appointed so that nothing unforeseen would happen.

Pope Francis minimized the importance of appearances to come across as approachable and relatable, similar to Buffett, who continues to own the $31,500 home he bought when he was 28 years old.

News from the Vatican on Thursday might shock even those closely following Catholic Church affairs: In 2023, Pope Francis raised Robert Francis Prevost, born in Chicago and currently known as Pope Leo XIV at age 69, to the rank of cardinal.Prevost was seen as relatively young for the College of Cardinals and was undoubtedly part of the more progressive wing within the church.

Although certain commentators stated that the legacy of Pope Benedict XVI likely revolved around his “ fashion sense, Pope Francis minimized the importance of appearances to present a more relatable image focused on reaching out to people, similar to Buffett, who still lives in the $31,500 home he bought when he was 28 in his native Omaha. It’s not surprising that many commentators have characterized the current group of cardinals this way: most diverse ever.

During his inaugural speech from the balcony of St. Peter’s Basilica in Rome, just as his predecessor Pope Leo XIV did, he emphasized inclusiveness: "A warm welcome goes out to the Church of Rome. It is essential for us to collaborate in finding ways to become a missionary church—one that fosters connections, engages in dialogue, and remains ever ready to embrace—much like these welcoming arms around the plaza—everyone, particularly those who require our compassion, support, conversation, and affection."

Warmth, humility, familiarity

The address stood out due to its warmth and modesty. Pope Leo XIV extended his message to those outside the approximately 1.4 billion-member Roman Catholic Church, delivering remarks that seemed fitting for—or even penned by—his immediate predecessor. "This is the tranquility brought forth by the resurrected Christ—a peacefulness characterized by disarmament and charm, marked by meekness and persistence. This serenity originates from God, who unconditional love encompasses every one of us."

Beginning last Wednesday, 133 cardinals locked themselves within the Sistine Chapel for the purpose of selecting the 267th pope. Despite passing away on Easter Monday at the age of 88, Pope Francis remained with them in spirit. Throughout his tenure as pope, he selected approximately 108 cardinal electors—high-ranking officials who take part in the Vatican conclave responsible for choosing a successor.

Actually, 80% of the cardinals were chosen by Pope Francis, which stands as the key action in cementing his legacy and ensuring that his forward-thinking approach will persist, likely causing concern among more traditionalist cardinals. Manipulating these appointments is fundamental for any leader’s succession strategy, particularly when the decision needs to be made posthumously.

Approximately 80% of the cardinals were chosen by Pope Francis, which stands as the definitive move to cement his legacy and ensure that his forward-thinking vision would persist.

While there are 53 cardinals from Europe , there are 23 from Asia, 18 from Africa and South America, respectively (Pope Francis was Argentinian), and a whopping 20 from North America, plus three from Oceania. Only 22 were appointed by Pope Benedict XVI, who preceded Pope Francis, and even fewer (5) by Pope John Paul II.

During his lifetime, Pope Francis also chose many of the judges for the Court of Cassation, the church’s equivalent of the U.S. Supreme Court — it’s both the highest venue for appeals and the highest court for interpreting Vatican law. This was not always looked upon favorably by his critics, who said many appointees lacked official legal education or practice.

Like any successor, whether in a religious organization, a monarchy, corporate America or, indeed, a family business, Pope Leo XIV will have to forge his own path, while maintaining continuity. He has a full plate: maintaining and preserving unity within the church and, like Francis, becoming an emblem of compassion on the international stage.

Centrist, liberal or conservative

Currently, Pope Leo seems to be somewhat of a mystery. The American Conservative he was widely regarded as a liberal." In an independent assessment, the BBC He is expected to be recognized as someone who supported the continuation of Pope Francis' reforms within the Catholic Church. It is thought that Prevost agreed with Francis regarding issues such as migrants, the underprivileged, and environmental concerns.

The New Statesman The selection of Pope Leo XIV underscores the value of moderation rather than making a dramatic shift ideologically speaking (what’s most noteworthy here is his nationality as an American). Amidst all the debate over the clash between liberal and conservative factions, it turns out that those advocating for centrist views were the ones who ultimately made their way forward.

Francis fostered a culture of inclusivity and humility, while Buffett at Berkshire Hathaway built a culture of trust and accessibility. They both had a strict no-schmucks policy.

“Cardinal Robert Prevost — now Pope Leo XIV — was touted as the man who could do both, who could bridge the ideological gap, who could be a continuity and a change candidate at the same time,” the publication added. “His clothes and speech made exactly that case: I look like Benedict, I sound like Francis.”

Pope Francis and Warren Buffett created distinct cultures at their respective institutions. They had strict no-schmucks policies. Francis fostered a culture of inclusivity and humility, while Buffett over his six decades at Berkshire Hathaway built a culture of trust and accessibility. Buffett, arguably, had a less “ decentralized ” approach than Francis did.

Still, it’s a hard line to walk. Pope Leo may be the man to walk it. He has both liberal and conservative ideals on theology and social issues, not unusual for someone who has risen to the highest ranks of a 2,000-year-old institution. But the lack of clear consensus on where he falls on the left-to-right political spectrum may prove to be one of his strongest assets.

Pope Francis, I imagine, is smiling down.