Todd Combs, one of Warren Buffett’s top lieutenants, is set to become chief executive of Berkshire Hathaway Inc.’s car insurer Geico on Jan. 1, the company said Monday.
Does this indicate Geico needs a big transformative shakeup? Or maybe the ecosystem it is building with Amazon and J P Morgan will gain extra momentum.
In the background the evolution of electric vehicles & autonomous cars and trucks coupled with the impetus to rent rather than buy makes the evolving ecosystem one ripe for disruption and transformation.
Interesting times!
In addition to making investment decisions, Mr. Combs has taken on a number of projects for Berkshire. He led Berkshire’s involvement in Haven, the venture Berkshire co-founded with Amazon.com Inc. and JPMorgan Chase & Co. to lower health-care costs for employees. He also played a role in Berkshire’s acquisitions of Precision Castparts Corp. and Duracell. More recently, he made two investments in financial-technology companies in emerging markets.
https://www.wsj.com/articles/geico-names-berkshire-investment-manager-as-chief-executive-11577126694
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