Indian American Ajit Jain moves a step closer to succeed Warren Buffett
“It is now officially a two-man race to succeed Warren Buffett as chief executive of a conglomerate that owns everything from auto insurer Geico to fast-food chain Dairy Queen.
Ajit Jain and Gregory Abel moved a step closer to being the successors of Warren Buffett, as Berkshire Hathaway Inc. named them to the board of directors of the company on Wednesday.
The 66-year-old Jain has been named vice chairman for insurance operations of the conglomerate, which has some 60 companies.
Abel, his potential rival and the CEO of Berkshire Hathaway Energy, has been named vice chairman for non-insurance business operations of Berkshire.