No. of Recommendations: 14
Ajit is not leaving immediately, but Berkshire is making a wise move choosing a successor and sharing this publicly. This is a crucial position, arguably as important as naming the CEO successor previously. It’s Gen Re Chairman Charlie Shamieh..
WSJ tonight:
Berkshire Hathaway has selected Gen Re chairman Charlie Shamieh as the successor to longtime insurance mastermind Ajit Jain, aiming to ensure a smooth leadership transition at one of the conglomerate’s most critical businesses, people familiar with the matter said.
Shamieh will step in to run Berkshire’s sprawling insurance arm when Jain decides to retire, the people said. Jain, a 74-year-old executive who Berkshire chairman Warren Buffett has said is irreplaceable, hasn’t signaled when he will step down. He is expected to remain in the role for the foreseeable future.
