Berkshire Hathaway has promoted Greg Abel, head of its sprawling electric utility and renewables division, to the company’s board and gave him a new job, moves that positions him as one of two possible successors to chief executive Warren Buffett.
The other is Ajit Jain, who oversees Berkshire’s reinsurance operations.
Abel, 55 years old and a native of Alberta, Canada, was named vice chair of the largest US conglomerate’s dozens of businesses outside of insurance in the energy, media, manufacturing, real estate, retailing, services and transportation sectors, among others.
