Jain, Abel appointments a move toward succession at Berkshire Hathaway: Warren Buffett

Open this

However, Mr Buffett said he would never take short position on bitcoin futures.

Both will continue handling major capital allocation and investment decisions, including acquisitions, for the Omaha, Nebraska-based Berkshire, though they have reduced their responsibilities in recent years as they have gotten older.

Warren Buffett and Charlie Munger will retain their positions on the board.

It was Munger's idea for Abel, Jain, and himself to all have vice chair titles, Buffett said.

Berkshire Hathaway has appointed two new vice-chairmen to its board, raising speculation that one of them will succeed Warren Buffet as chairman and chief executive.

Buffett told CNBC that these appointments were "part of a movement to succession over time", adding that the appointments should not be seen as a sign of his stepping down from the company's leadership.

"Our directors believe that our future CEOs should come from internal candidates whom the Berkshire board has grown to know well", he said.

Responding to an analyst report that predicted Buffett could run Berkshire for the next 10 years, the Oracle of Omaha said that sounds a bit long without getting anymore specific. He said jokingly, "I wasn't much to start with".

Buffett, who first publicly raised the succession issue more than a decade ago, said he remained in "remarkably good health" and that his health was not a factor in making the announcement, but said "maybe six weeks ago, I just decided, 'Why not now?'"

Abel, chairman and CEO of Berkshire Hathaway Energy Co., is being named vice chairman of non-insurance business operations.


  • Dylan Farrow Wants To Know When Woody Allen's Time Will Be Up

    Dylan Farrow Wants To Know When Woody Allen's Time Will Be Up

    The protest comes after the #MeToo movement , where women's stories of harassment were shared from Hollywood and beyond. She also spotlighted Lively, who appeared in his 2016 film " Cafe Society " and said Allen is " empowering to women ".
    Overwatch League-Twitch Deal Worth At Least $90M

    Overwatch League-Twitch Deal Worth At Least $90M

    However, there are 12 teams participating in the Overwatch League , meaning that there are a grand total of 312 skins. The deal, announced earlier today , is believed to be the biggest exclusive distribution deal in esports history.
    Trump wants immigration compromise - and border wall

    Trump wants immigration compromise - and border wall

    DACA has become a bargaining chip as Congress moves closer to having to pass a spending bill or shut down the government. Heidi Heitkamp of North Dakota and Jon Tester of Montana, as well as Democratic Rep.
  • Parties show mixed reactions to gov't measures on sex slavery deal

    Parties show mixed reactions to gov't measures on sex slavery deal

    Japan colonised the Korean peninsula between 1910 and 1945 and occupied parts of China before and after the war. Kono again called on the South Korean government to steadily implement the agreement.
    Trump to Attend Davos, White House Says

    Trump to Attend Davos, White House Says

    Trump waves as he walks across the South Lawn of the White House to depart by Marine One, in Washington, DC, USA, 16 June 2017. Trump's inauguration, becoming the first Chinese leader to mingle with the corporate and media crowd in the mountain village.
    AT&T drops plans to carry Huawei smartphones

    AT&T drops plans to carry Huawei smartphones

    The Mate 10 Pro could have been the first flagship device from the company to be available through network operators in the US. Huawei has stated that while the Mate 10 Pro won't be offered via a carrier in the US , it would be offered via open channels.
  • Trump interview with Federal Bureau of Investigation  'likely'

    Trump interview with Federal Bureau of Investigation 'likely'

    "We could have been very closed, and it would have taken years", Trump said about the Mueller probe. Trump's lawyers reportedly hope to learn exactly what categories of questions Trump would face.
    Samsung unveils The Wall

    Samsung unveils The Wall

    It has the ability to transform into various sizes and offers, incredible brightness, color volume, color gamut, and black levels. The advancements include easier sharing and connectivity, simpler controls for the television, and syncing with other devices.
    Deputy killed in Pierce County, armed and risky  suspect at large

    Deputy killed in Pierce County, armed and risky suspect at large

    A burglary investigation that began Sunday night southwest of Tacoma ended with the death of a Pierce County Sheriff's Deputy. Due to the manhunt and ongoing police investigation, the Bethel School District has canceled school on Monday .
  • Vivo is the first Smartphone Manufacturer to use Under-Display Fingerprint Scanner

    This year, the smartphone company is ready to launch its final product Consumer Electronic Show ( CES ) in Las Vegas. These fingerprint sensors can be embedded inside the display and will be scratch-proof as well waterproof.
    Manhunt for pair charged in girl's death underway

    Manhunt for pair charged in girl's death underway

    While she was being processed, officers discovered she had a blank prescription form from a doctor's office. In 2006, Fields pleaded guilty to carrying an unauthorized concealed weapon and served a year of probation.
    Oil Prices Hit Three-Year Highs on Growth, Geopolitics

    Oil Prices Hit Three-Year Highs on Growth, Geopolitics

    Crude oil futures continued to surge Tuesday on expectations the global oil market will soon re-balance. Brent hit US$68.27 last week, the highest since May 2015.


Latest news

Five guy: Sharks' Burns headed back to NHL All-Star Game
This season, Pietrangelo has collected 29 points (seven goals, 22 assists) and a plus-15 rating through 41 games. Burns had a combined 151 points the last two seasons, including 76 last season, a team record for a defenseman.

Officials react to Alabama Toyota-Mazda plant announcement
These states generally have good transportation infrastructure, business-friendly regulators and anti-union politicians. Many automakers have announced expansions of facilities or new jobs but no other new US auto plants have been announced.

New Black Panther Featurette Focuses on T'Challa's Responsibilities
Though presales have been great, it remains to be seen if Black Panther will repeat Civil War's $179 million opening . Jordan , Danai Gurira, and Forest Whitaker .

Trump answers question about possible Mueller interview by attacking Hillary Clinton
Asked in recent press conference whether he would do an interview with Mr Mueller, the President quickly switched topics. Democrats said Trump is trying to block the investigation, citing his call to Republicans to "take control" of it.

Harvey Weinstein Attacked at Restaurant in Scottsdale
Reps for Weinstein told Page Six that Weinstein "is still OK and in good spirits" and that no police report was filed. TMZ said the person shooting asked if Weinstein wanted to call the police, though this does not appear on the video.

More than 60% who try a cigarette become daily smokers, study says
At least two-thirds of those who try cigarettes go on to become daily smokers, even if only temporarily, research suggests. Most of the people who are now addicted to smoking are the ones who started off with "what harm could one cigarette do".

Packers to name Pettine defensive coordinator
Pettine's scheme, like Ryan's, is rooted in a 3-4 system that relies heavily on press man cornerbacks and myriad blitzes. The expectation is that the Green Bay Packers will hire the former Browns head coach to serve as defensive coordinator.

Donald Trump says he would 'beat Oprah' in presidency battle
Despite all this, she praised Oprah's message and echoed: "Let's all come together, women and men, and say Time's Up ". Oprah Winfrey did more than just stir emotions last night (Jan. 7) at the Golden Globes .

'Roseanne' reboot to depict a family 'divided by politics' under Trump
Tim Allen (right) played played Mike Baxter who is also politically conservative on the canceled show " Last Man Standing ". But it was Roseanne Barr's personal politics that dominated the conversation.

John Dickerson Set to Replace Charlie Rose on 'CBS This Morning'
Rhodes said in his memo that he'll be in Washington later this week to begin the process of finding Dickerson's replacement there. John said, "On the campaign trail I've collected complements about CBS This Morning's commitment to the news for years now.

Alligators, encased in ice, endure North Carolina's cold snap
That's why, when a North Carolina park featuring gators froze over in recent days, they can be seen seemingly stuck in the ice. And, when the weather warmed up, the alligators went right back to sunbathing to increase their internal body temperatures.

DJI Osmo Mobile 2, Ronin-S Camera Stabilisers Launched at CES 2018
Also new is a quarter-inch mount on the bottom of the Osmo for sticking it onto a tripod for more complex or prolonged shoots. It has a Push mode that lets you move the camera by hand, but also has a joystick to adjust it with the gimbal motors.

Bill Belichick: I have a good relationship with Alex Guerrero
Kraft told the MMQB last weekend that he also expects Belichick to be with New England next season. "I'm juiced. As we know, 49ers general manager swung a deal with Bill Belichick to land Garoppolo for a second-round pick .

With one withering comment, Natalie Portman made a big statement
Natalie Portman , presenting the director prize, did not let Greta Gerwig's snub go unnoticed. Portman wasn't even nominated, but somehow she walked away with all the awards.

Planes collide at Toronto airport, causing fire, evacuation
Luckily, the Sunwing plane that was being towed by the ground handling service provider at that time had no passenger on board. Two airliners collided on the tarmac of Toronto's Pearson International Airport on Saturday morning, causing a small fire.

Other news