Who will be Buffett's successor?

Who will be Buffett's successor?

He had been chief executive of its MidAmerican Energy Co subsidiary, which provides electric and natural gas service in four Midwest U.S. states, and BHE Renewables, which builds wind and solar farms.

The conglomerate, with names as diverse as Dairy Queen ice-cream shops to Fruit of the Loom underwear to GEICO vehicle insurance, expanded its board to 14 members, with Berkshire energy chief Gregory Abel and Berkshire reinsurance president Ajit Jain filling the new slots.

Warren Buffett's main focus isn't delivering stock price gains for Berkshire's shareholders every year. Mr. Jain, the longtime head of Berkshire's vast reinsurance operations, will serve as vice chairman of Berkshire's insurance operations.

Analysts immediately saw the move as positioning one or both of them as eventually succeeding Buffett at the top of the sprawling conglomerate which is now valued a $US505 billion.

Who Berkshire would pick to succeed Mr. Buffett as chief executive has always been on the minds of investors. After the announcement on Wednesday, they were up around 1% at $US306,819.

Buffett said on CNBC on Wednesday that the new board members are "part of a movement toward succession over time". So it's very good for Berkshire.

(INTC) Holdings Increased by Whitnell & Co
Baird reaffirmed an "outperform" rating and set a $45.00 price objective on shares of Intel in a report on Tuesday, September 5th. The insider MCCOLLOUGH W ALAN sold $1.44M. 110,943 shares were sold by WISEMAN ERIC C, worth $7.06 million on Friday, August 25.

A widely admired figure because of his commitment to long-term investing and his folksy bearing, Buffett said he remained in "remarkably good health", but running the company for another 10 years "would be a long time".

Having said that, it would take a lot for 2018 to be the best year in Berkshire's history.

This confirmed expectations of many investors and analysts that Abel and Jain are the frontrunners to become Berkshire's chief executive whenever Buffett, 87, is no longer in charge. Someone will move up to be CEO of Berkshire Hathaway Energy, he said, but otherwise there will be no changes in personnel as a result of the promotions. Under him Berkshire's re-insurance business has grown to be one of the largest in the world. Buffett and Charlie Munger, Berkshire Hathaway's vice chairman, will keep their positions on the board.

Visa will stop requiring signatures for purchases made in North America using chip-card technology, a win for big bricks-and-mortar retailers that could help them cut the cost of accepting plastic.

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.

Related News:

  • BidaskClub Upgrades Expedia (NASDAQ:EXPE) to Sell

    The consensus analysts recommendation at this point stands at 2.10 on Expedia, Inc. (NASDAQ:EXPE) rating on Wednesday, January 11. According to the latest data, investors are looking at Expedia, Inc. 84 funds opened positions while 193 raised stakes.
    Panthers claiming Cam Newton had knee injury, not concussion

    Panthers claiming Cam Newton had knee injury, not concussion

    Newton returned for the next offensive series after missing just one play and threw a 56-yard touchdown pass to rookie Christian McCaffery.

    Durbin Says Graham Confronted Trump on 'Shithole' Comments with 'Extraordinary Political Courage'

    Dick Durbin, D-Illinois, said Friday that he heard the president make "vile and racist " comments . That's not how a president behaves.
  • BJYM Celebrates National Youth day in Arunachal

    BJYM Celebrates National Youth day in Arunachal

    Union Minister for Culture (Independent Charge) Mahesh Sharma will be the guest of honour on the occasion. Banerjee tweeted: " Today is the birth anniversary of Swami Vivekananda.
    US, Korea to Postpone War Games

    US, Korea to Postpone War Games

    North Korea has yet to respond to the South Korean proposal, leaving some uncertainty as to the agenda and the venue of the talks. The Trump administration had said that Kim must at least pause his nuclear weapons program before talks would be considered.
    TRACKING: Flood Watch, Winter Weather Advisory issued for region

    TRACKING: Flood Watch, Winter Weather Advisory issued for region

    It was the deep freeze during the last week of the month that really lowered the average temperature to levels far below normal. In Hancock and Washington counties, the flood watch extends from Friday afternoon though Sunday morning.
  • Spartak Moscow under fire for

    Spartak Moscow under fire for "chocolate" tweet

    Russia, billed to host the FIFA World Cup in June has a long history of racial prejudices and intolerance. It is not the first time Spartak have been censured over racist behaviour this season.
    Abdul Quddus Bizenjo sworn in as new chief minister of Balochistan

    Abdul Quddus Bizenjo sworn in as new chief minister of Balochistan

    The political crisis began with Bizenjo submitting a no-confidence motion against the chief minister on January 2. A total of fifty-four lawmakers in a 65-member House took part in the voting.

    Accenture Plc (ACN) Receives Average Recommendation of "Buy" from Analysts

    Following the transaction, the chief executive officer now directly owns 179,083 shares in the company, valued at $24,181,577.49. Out of 19 Wall Street analysts rating Laboratory Corp, 10 give it "Buy", 0 "Sell" rating, while 9 recommend "Hold".
  • Iran Says It Won't Accept Any Changes To 2015 Nuclear Deal

    Iran Says It Won't Accept Any Changes To 2015 Nuclear Deal

    Instead, I have outlined two possible paths forward: either fix the deal's disastrous flaws, or the United States will withdraw. He wants to make the restrictions on Iran's nuclear program permanent so Iran never gets any closer to building a nuclear bomb.
    Man shoots mother in the head over broken video-game headset

    Man shoots mother in the head over broken video-game headset

    Nicholson then blamed her for the broken headset and threatened to kill the victim and Nicholson's father. Autumn White, the suspect's sister, said, "My mom was a wonderful person who loved her children".

    Freeport-McMoRan Copper & Gold Inc. (FPMB.DE) Awesome Oscillator Building Momentum

    It is flat, as 57 investors sold FCX shares while 214 reduced holdings. only 91 funds opened positions while 181 raised stakes. Analysts expect Freeport-McMoRan Inc. (NYSE:FCX) has been 17.67 million shares per day over the past 30 days.


Most liked

Hawaii Senator: Fake missile alert was based on 'human error'
The incident occurred amid high tensions internationally over North Korea's development of a ballistic nuclear weapon. State and county emergency officials confirm, "There is no threat of missile launch at this time".

Nike Inc (NKE) Shares Sold by Barings LLC
The investment professionals in our partner's database now own: 985.62 million shares, down from 994.42 million shares in 2017Q2. Cowen restated a "hold" rating and set a $54.00 target price on shares of Nike in a report on Sunday, September 17th.

Mike Tomlin expects Antonio Brown to play vs. Jacksonville Jaguars
The Jacksonville Jaguars are about as healthy as they could have hoped heading into the divisional round of the AFC playoffs. He had 23 catches during the regular season for 364 yards and three touchdowns.

Upcoming Map Update Set to Introduce More Points of Interest
In addition to the all-new locations, they're making the existing locations of the map feel more like unique biomes. Of course, there will also be additional "quality of life improvements," though what exactly they remain a mystery.

Is Buying All-time Stock Like Baxter International Inc
As per Friday, April 28, the company rating was maintained by BMO Capital Markets. (NYSE:CTL) rating on Monday, July 18. VITALITY BIOPHARMA INCORPORATED (OTCMKTS:VBIO) had a decrease of 10.75% in short interest. (NYSE:BAX) or 12,670 shares.

Real Madrid 0 Villarreal 1: Fornals' late show stuns frustrated champions
Real fired off almost 30 shots but their accuracy was wayward, with Cristiano Ronaldo among the worst culprits in front of goal. Real Madrid will play against Villarreal at the Santiago Bernabéu in the 19th round of the Santander La Liga 2017/2018.

Balague comments on Malcom to Tottenham Hotspur, Arsenal speculation
Manchester United gain a pacy, productive forward and stop their city rivals gaining another elite player. The only word I can say is the same word that everybody says, he's a phenomenal player.

Mcdonalds Corp Sentiment Worsening on Low Stock Potential
Nine research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company's stock. Also, insider Stephen Easterbrook sold 171,577 shares of the business's stock in a transaction dated Tuesday, November 21st.

Conning INC Decreased Holding in Boeing Co (BA) as Stock Value Rose
It is positive, as 50 investors sold YUM shares while 238 reduced holdings. 106 funds opened positions while 696 raised stakes. The aircraft producer reported $2.72 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $2.65 by $0.07.

Rohingya insurgents say 10 found in Myanmar grave "innocent civilians"
Myanmar denies ethnic cleansing, saying its security forces had mounted legitimate counter-insurgency clearance operations.

Manchester United legend Ryan Giggs interviewed for vacant Wales boss job
According to Reuters , Ryan has been interview for the vacant Wales job, one that he previously stated would be a great job to take on.

Saddier, Paisley hold SA Open lead
Chris Paisley hit seven birdies and a bogey in a round of 66 and is one shot behind at the European Tour event. Defending champion Graeme Storm missed the cut by a shot, though, thanks mainly to his opening-round 75.

Legendary college football broadcaster Keith Jackson dies at 89
He was a five-time National Sportswriters and Sportscasters Association National Sportscaster of the Year recipient. ET game was appointment viewing for many college football fans as it was traditionally the weekend's marquee game.

Liam Neeson criticises 'witch hunt' in wake of Hollywood harassment scandal
Hoffman has been accused of harassment and assault by multiple women , charges which he has strenuously denied. If you don't do it every night you think it's going to jinx the show", the Irish star said.

Arda Turan leaves Barcelona on loan, joins Istanbul Basaksehir
Barcelona have officially confirmed that Arda Turan will be loaned to Basaksehir in a deal that sees the Turkey worldwide join the club until 2020 .