Published: Thu, January 11, 2018
Tech | By Constance Martin

Buffett adds his 2 potential successors to Berkshire board

Buffett adds his 2 potential successors to Berkshire board

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.

Despite his fondness for Cherry Coke and Oreos, Warren Buffett is fine.

Berkshire's board will grow to 14 members from 12 with the addition of Abel and Jain.

"They know each other well, they like each other well, they both have their areas of specialty", he said. It's the clearest sign yet of what Buffett will do, after years of speculation.

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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.

"Now if something happens, they're right there", Kilpatrick said. Jain is being appointed vice chairman of insurance operations. Jain is the Executive Vice President of National Indemnity Co.

Buffett shot down the idea that Abel and Jain would share the CEO post once he's no longer running the company, saying there would be one person in the position but not saying who it would potentially be.

Berkshire has more than 90 operating units including the BNSF railroad, Geico auto insurance, the Dairy Queen ice cream chain, Fruit of the Loom underwear, See's sweets, and a variety of industrial and chemical operations. The conglomerate also holds major investments in companies such as Coca-Cola, Wells Fargo, American Express and Apple.

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