News: Will Ajit Jain be the new CEO of Buffett's Berkshire?

C-Suite

Will Ajit Jain be the new CEO of Buffett's Berkshire?

Berkshire Hathaway's reputation as a lender of last resort will get stronger under its next chief executive officer because the company will have more capital to deploy in times of crisis, Warren Buffett said. This was reported by Bloomberg.

Berkshire Hathaway's reputation as a lender of last resort will get stronger under its next chief executive officer because the company will have more capital to deploy in times of crisis, Warren Buffett said. This was reported by Bloomberg.

According to the report, investors have speculated about who might replace Buffett atop the firm that he and vice chairman Charles Munger, 89, built into a business valued at over $260 billion. The CEO, who's also Berkshire's chairman and largest shareholder, dodged a question about whether Jain was his successor, while praising him and other executives who contribute to the company's success. If Ajit is ever not with Berkshire, “we won't look as good,” Buffett said. “That’s true of a lot of other managers, too.”

Berkshire's board is “solidly in agreement” as to who should be the next CEO, he said, without identifying the individual. Buffett has said his roles will be divided once he's no longer leading the company.

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Topics: C-Suite, #Updates

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