Warren Buffett takes a step closer to naming a successor as Berkshire appoints Abel and Jain to board as vice chairs
Publishing timestamp: 2018-01-10 11:03:08
Summary
Warren Buffett appoints Gregory Abel and Ajit Jain as vice chairmen of Berkshire Hathaway, hinting at potential successors. Abel to oversee noninsurance operations and Jain to oversee insurance operations. Buffett and Munger will continue in their roles. Speculation about succession plan has been ongoing due to Buffett's age. Abel and Jain seen as potential successors, with Abel being favored by some analysts. Buffett has achieved significant market-beating returns for Berkshire Hathaway and whoever succeeds him may not retain full stock-picking role. Stock price fell slightly after announcement, but underlying fundamentals remain strong.
Sentiment: MIXED
Tickers: BRK.A,
Keywords: energy, business news, business, warren buffett, media, berkshire hathaway inc,