Deals
Two of Buffett’s Successor Candidates Join Berkshire’s Board
- Move increases size of board to 14 directors from 12
- Buffett, Vice Chairman Munger to remain in current roles
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Berkshire Hathaway Inc. is adding two senior executives -- Gregory E. Abel and Ajit Jain -- to its board as speculation grows about who will replace the company’s 87-year-old chief executive officer, Warren Buffett, atop one of the world’s largest companies.
Abel, 55, will be vice chairman of the non-insurance business, while Jain, 66, will be vice chairman of the insurance operations, the company said in a statement Wednesday. Buffett and Charles T. Munger, 94, Berkshire Hathaway’s vice chairman, will continue in their current positions, including being responsible for significant capital allocation decisions and investment activities.