Buffett's Berkshire Hathaway Furthers Succession Plan -- 2nd Update
10 Enero 2018 - 7:41AM
Noticias Dow Jones
By Allison Prang and Erik Holm
Warren Buffett has elevated two longtime Berkshire Hathaway Inc.
executives to vice chairman roles at the company, all but
confirming years of speculation that one of them is in line to
replace him.
Berkshire said Wednesday that it is expanding its 12-member
board of directors by two and naming Gregory Abel and Ajit Jain to
fill the spots.
Mr. Abel, chief executive of Berkshire Hathaway Energy Co., also
has been named vice chairman of the company's non-insurance
business operations. Mr. Jain, Berkshire's most important insurance
executive, has been named vice chairman of insurance
operations.
Mr. Buffett, Berkshire's chairman and chief executive, will stay
in his roles. So will Charlie Munger, Berkshire's existing vice
chairman who has worked alongside Mr. Buffett for decades.
In an interview on CNBC, Mr. Buffett said the moves represent "a
movement to succession over time" but declined to give further
specifics on that timing. Mr. Buffett added that he remained in
good health and enjoyed working, so the promotions shouldn't
suggest larger management changes soon.
Messrs. Jain and Abel have long been considered by those that
follow Berkshire to be the leading candidates to replace Mr.
Buffett when he no longer leads the company. Mr. Munger dropped a
hint that was the case in a letter to shareholders two years ago,
but the company hasn't officially confirmed that they are in line
for the top job.
Berkshire, which comprises about 60 businesses across multiple
sectors, has been led by Mr. Buffett for more than 50 years.
During the company's annual meeting last year, Mr. Buffett
suggested that whoever does ultimately step into his role will be
responsible for spending the company's cash and that his successor
could take the reins while Mr. Buffett is still alive.
Berkshire, which doesn't usually have much turnover in its top
leaders, has had a number of executive changes at its different
businesses.
Write to Allison Prang at allison.prang@wsj.com and Erik Holm at
erik.holm@wsj.com
(END) Dow Jones Newswires
January 10, 2018 08:26 ET (13:26 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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