Published: Sat, January 13, 2018
Business | By Tara Barton

Berkshire Hathaway Energy Names William Fehrman as CEO to Replace Greg Abel

Berkshire Hathaway Energy Names William Fehrman as CEO to Replace Greg Abel

Analysts on average have given a price target of $214.5 to Berkshire Hathaway Inc.

Berkshire Hathaway ( BRK.A ) Energy on Thursday named William Fehrman as its chief executive officer, replacing Greg Abel, who was promoted on Wednesday to head the company's non-insurance businesses. Ajit Jain, who was executive vice president of National Indemnity Co., was promoted to vice chairman of Berkshire's insurance operations.

Berkshire officials said Jain and Able weren't available to comment on their promotions. Buffett has mentioned the possibility of buying back shares or even paying a dividend if the cash continues to grow, so there are several possible ways that Berkshire could use its cash. "It's sort of a running extension as I go along". "There's been no change in that", he told interviewer Becky Quick on CNBC's early-morning Squawk Box business program.

It's roughly seven weeks to when Warren Buffett releases his annual letter to shareholders with Berkshire Hathaway's 4th quarter and annual results, but the Sage of Omaha has made sure his latest missive will be examined more closely than ever by making his most definite move so far on succession.

"I think it was a very smart move", Seifert said of Buffett's TV appearance, so people could see him and not speculate that something was wrong with his health. One son, Howard, serves on Berkshire's board.

Who Berkshire would pick to succeed Mr. Buffett as chief executive has always been on the minds of investors.

Taiwan Semiconductor Mfg. Co. Ltd
It is negative, as 40 investors sold CRM shares while 234 reduced holdings. 43 funds opened positions while 159 raised stakes. Volume is the basic fuel of the market since stocks move up or down in price only when shares are trading hands.

This short time frame picture represents an upward movement of current price over average price of last 20 days. The stock gained 5.08 percent over the past month and rose 4.27 percent year-to-date. He talked with Berkshire directors one at a time and "they jumped all over it".

"It just makes sense now", Buffett said of the announcement.

Jain is considered one of the world's top insurance executives, and Abel is known for the series of acquisitions carried out by the Des Moines-based utility that is now called Berkshire Hathaway Energy.

Who might succeed Warren Buffett became clearer Wednesday.

"They've both got Berkshire in their blood", Buffett said.

Abel has used big acquisitions to help expand Berkshire Hathaway Energy, but had a setback previous year when his $9 billion offer for Texas power transmission company Oncor was trumped by a higher bid from San Diego-based Sempra Energy.

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