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

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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.

Fehrman has been a senior executive with Berkshire since 2006 and was the CEO of MidAmerican Energy Co. and BHE Renewables before being promoted.

Berkshire said on Wednesday that it would promote Abel, who joined the company in 1992 and was chairman and CEO of Berkshire Energy, to head of its non-insurance business operations. Ajit Jain, who was executive vice president of National Indemnity Co., was promoted to vice chairman of Berkshire's insurance operations.

Both men were appointed to spots on the company's board, increasing the number of directors to 14 from 12.

Warren Buffett and Charlie Munger will continue in their existing positions and will still be responsible for "significant capital allocation decisions and investment activities" for Berkshire, the company said.

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This article appears in: Investing , ETFs
Referenced Symbols: BRK.A , BRK.B

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