Berkshire Hathaway utility unit shuffles top executives

Buffett Say He's In Good Health But Confirms First Step In Succession Plan

Buffett did, however, joke that announcing Berkshire Hathaway would do something in cryptocurrencies would likely pique investor interest, a reference to incidents like Kodak's rebirth as a cryptocurrency player and the sudden share price surge after the Long Island Iced Tea Corp renamed itself Long Blockchain. It remains to be seen whether the company will lose its lustre without the Oracle of Omaha.

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.

While Jain's experience has primarily been on the underwriting side of the business, his success there has been built on his ability to avoid making "dumb decisions" rather than making "brilliant" ones-attributes that have kept him in good stead with Buffett over the years.

The legendary investor's departure would put the company into unchartered territory for retail investors.

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. Running a $500 billion conglomerate with a remarkable track record of success is a very different proposition for Berkshire's next boss than the small, struggling textile manufacturer in New England that Buffett bought so many years ago.

"What's going on definitely will come to a bad ending", he said. "There's nothing I'd rather be doing".

What Historical Figures Say About Berkshire Hathaway Inc. In a 2011 filing with the Securities and Exchange Commission, Berkshire said there were "four current Berkshire subsidiary managers who are capable of being CEO".

Progressive Corp (PGR) Given Consensus Rating of "Hold" by Analysts
Marc Majzner increased its stake in Inc Resh Hldgs Inc (INCR) by 22.12% based on its latest 2017Q3 regulatory filing with the SEC. Ladenburg Thalmann Financial Services Inc.'s holdings in Progressive were worth $1,664,000 at the end of the most recent quarter.

"There's no horse race at all in these two folks". One son, Howard, serves on Berkshire's board.

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.

In a 15-minute telephone meeting Tuesday, the board expanded its membership from 12 to 14, and Buffett named Jain and Abel to the new seats, with the vice chairman titles.

Who would take over as chief executive has remained the big question.

Berkshire Hathaway Inc. (BRK-B) now has a Return on Assets (ROA) value of 0 Percent.

"When everyone's talking about it, it makes me feel like we're probably near the top of a bubble", Rogers said in an interview on ".

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