gpolit.com
gpolit.com January 19, 2018


Berkshire Hathaway announce two new posts as part of succession plans

11 January 2018, 03:15 | Rudolph Thomas

Bloomberg’s Noah Buhayar discusses why Gregory Abel is a leading contender to replace Warren Buffett

Bloomberg’s Noah Buhayar discusses why Gregory Abel is a leading contender to replace Warren Buffett

Buffett said back in 2014 that bitcoin is a "mirage" and his views hasn't changed.

Addressing the timing of the move, Buffett said he's in "remarkably good health" considering his age.

"They know each other well, they like each other well, they both have their areas of specialty", he said.

The chairman and chief executive of Berkshire Hathaway has joined the chorus of voices criticising the digital currency, which endured a rollercoaster ride at the tail end of 2017.

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.

"I have to face reality", Munger said.

"I love what I do", he said. "They are the two key figures at Berkshire...this would've made sense five years ago, too".

"I get into enough trouble with things I think I know something about", Buffett explained.

Buffett and Berkshire's 94-year-old Vice Chairman Charlie Munger will retain their positions on the board, which is expanding to 14 members from 12.

"Today's news codifies the importance of Greg Abel and Ajit Jain to not just their current businesses, but their future authority once Buffett relinquishes the CEO title", he added.

Abel joined Berkshire Hathaway Energy Company in 1992 and now serves as its chairman and CEO.

Abel joined Berkshire Hathaway Energy Co.in 1992 and now serves as its Chairman and CEO. Speculation had centered on Abel and Jain as possibilities.



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