CNN BUSINESS | Warren Buffett names his successor

New York (CNN Business) – Warren Buffett said Monday that Greg Abel, the head of Berkshire Hathaway’s non-insurance business, will be his successor — although Buffett gave no indication that he will give up the top job at the conglomerate anytime soon.

Abel has long been considered one of the two men likely to follow Buffett, along with Ajit Jain, who heads Berkshire’s insurance business. Both are vice chairmen of the company, along with 97-year old Charlie Munger. Speaking to CNBC Monday morning, the 90-year old Buffett said that Abel is the next in line to follow him, followed by Jain.  —read more—