Berkshire Hathaway executives Ajit Jain and Gregory Abel have been appointed to the company’s board as vice chairs, the same title held by Warren Buffett’s longtime partner Charlie Munger.
Jain, 66, executive vice president of Berkshire Hathaway’s Stamford-based reinsurance division National Indemnity Co., will be vice chairman of insurance operations of the company’s board.
Abel, 55, chairman and CEO of Berkshire Hathaway Energy Co., will be vice chairman of noninsurance business operations in the move, which increases Berkshire’s board seats from 12 to 14. Abel has been on the board of directors since 2000.
Both men have been hinted as possible successors to Buffett, who will turn 88 in August.
Jain joined the Berkshire Hathaway Insurance Group in 1986. His younger cousin Anshu Jain is president of Cantor Fitzgerald.