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

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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.

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