<div id="readability-page-1"><div>By Stephen GandelGreg Abel, who is replacing Warren Buffett as CEO, put his first big stamp on the $1 trln empire. A reorganization, with Todd Combs decamping for JPMorgan, centralizes more of the sprawling operation. It replaces a uniquely personal structure with an archaic conglomerate one.Full view will be published shortly.Follow Stephen Gandel on LinkedIn and X.CONTEXT NEWSBerkshire Hathaway said on December 8 that Geico Chief Operating Officer Nancy Pierce would become CEO, replacing Todd Combs, who is leaving for a role at JPMorgan, as part of a series of leadership changes.Charles Chang, the CFO of Berkshire Hathaway Energy, will become CFO of Berkshire Hathaway on June 1, 2026, succeeding Marc Hamburg, who is retiring in June 2027.Michael O’Sullivan, the general counsel for social media company Snap, was appointed to the same role at Berkshire, effective January 1, 2026. It is a new position at the conglomerate, which historically has used outside law firms to handle corporate matters.Adam Johnson, CEO of Berkshire-owned NetJets, will add the position of president of consumer products, service and retailing businesses, effective immediately.Combs joined Berkshire in 2010 alongside Ted Weschler to help manage the company's investment portfolio.</div></div>

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Berkshire Hathaway undergoes a major leadership shakeup as Greg Abel replaces Warren Buffett as CEO. Todd Combs leaves for JPMorgan, prompting a reorganization that centralizes operations. Nancy Pierce becomes Geico CEO, Charles Chang is set to be CFO in 2026, and Michael O’Sullivan joins as general counsel. Adam Johnson expands his role at NetJets. These changes mark a shift from a personal structure to a traditional conglomerate model.

- Berkshire Hathaway announced significant leadership changes, including the appointment of Nancy Pierce as CEO of Geico, replacing Todd Combs, who is moving to JPMorgan.  
- Greg Abel, the new CEO, is centralizing operations, shifting from a personal management structure to a more traditional conglomerate model.  
- Additional appointments include Charles Chang as CFO starting June 1, 2026, and Michael O’Sullivan as general counsel effective January 1, 2026, marking a shift in the company's legal strategy.

Berkshire shakeup augurs another anachronism