Would-Be Successor To Buffett Resigns
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
Joseph Brandon, once a top candidate to succeed Warren Buffett at Berkshire Hathaway Inc., resigned under pressure as chief executive officer of the company’s General Re Corp. after a jury convicted former executives. Prosecutors named Mr. Brandon as an unindicted co-conspirator at a trial where four former General Re officers, including ex-CEO Ronald Ferguson, were convicted February 25 of helping American International Group Inc. deceive investors through a sham transaction in 2000. Mr. Brandon will be replaced as CEO by the president of General Re, Franklin Montross, Omaha, Neb.-based Berkshire said yesterday in a statement.
