Who will be Buffett's successor?

Mae Love
January 13, 2018

This week, the Oracle of Omaha gave another hint about Berkshire after Buffett: he appointed Gregory Abel and Ajit Jain to the company's board as directors (pdf) and made them vice chairs, sending another signal that one of them will likely take his place at the helm of the company eventually.

The two new titles indicate that out of the top executives at Berkshire businesses, Jain and Abel are the two who would succeed Buffett - at least as things stand now.

Berkshire said on Wednesday that it would promote Abel, who joined the company in 1992 and was chairman and CEO of Berkshire Energy, to head of its non-insurance business operations. The only issue we can think of with Jain is that he has been on the record several times saying that he does not want the top job.

The 87-year-old businessman now serves as chairman and CEO of Berkshire Hathaway alongside vice chairman Charlie Munger, 94.

Cathy Seifert, an analyst with CFRA Research in NY who follows Berkshire, told The World-Herald that naming the two vice chairman - titles suggested by Munger - Buffett removes much of the succession uncertainty that has anxious many Berkshire shareholders.

Buffett and Charles T. Munger, Berkshire's vice chairman, will retain their board positions. Under him Berkshire's re-insurance business has grown to be one of the largest in the world.

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87 year old Mr Buffett will continue as chairman and chief executive of the company that he has led over the past 50-plus years.

The most recent major play overseen by Mr Buffett was the investment in Apple starting in early 2016 that has seen Berkshire become the iPhone company's largest shareholder. Hot Stocks Point (HSP) makes sure to keep the information up to date and correct, but we didn't suggest or recommend buying or selling of any financial instrument unless that information is subsequently confirmed on your own. One son, Howard, serves on Berkshire's board. Six weeks ago or so, he said, "I just decided, why not now?" Rose was not mentioned in Wednesday's CNBC interview.

Following that move, Berkshire promoted MidAmerican Energy CEO William Fehrman to replace Abel at Berkshire Hathaway Energy.

What Historical Figures Say About Berkshire Hathaway Inc.

Berkshire Hathaway Inc. (BRK-B) now has a Return on Assets (ROA) value of 0 Percent. "We don't own any, we are not short any, we will never have a position", he said.

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