Warren Buffett has appointed two senior executives to the board of Berkshire Hathaway, handing them both responsibility for large parts of the business and lining them up as his likely successors.
Greg Abel, chairman and CEO of Berkshire Hathaway Energy, will be vice chairman of the non-insurance business, while Ajit Jain, executive vice president of the National Indemnity Company, will be vice chairman of the insurance operations. In an interview with CNBC, 87-year-old Buffett suggested the pair will oversee the subsidiaries in their areas. Buffett wins $1m hedge fund performance bet "It is part of the movement towards succession," Buffett said. "They are the two key figures at Berkshire." "They both have Berkshire in their blood," he added. Berkshire's board has vot...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
