Todd Combs Leaves Berkshire To Lead JPMorgan’s Newly Launched Strategic Investment Group

• Berkshire Hathaway announced a slew of executive changes across its businesses. 
• Nancy L. Pierce, formerly Chief Operating Officer, has been tapped as the new CEO of GEICO.
• CFO, Marc D. Hamburg, will retire on June 1, 2027. 

Berkshire Hathaway Inc. (BRK.A, BRK.B) announced on Monday a major reshuffle across its corporate, insurance, and non-insurance divisions, appointing new executives in several pivotal roles. 

Under the new structure, Todd A. Combs, who has led GEICO since 2020, will leave Berkshire to join JPMorgan Chase & Co. (JPM). 

The table below provides details on the new executives.

GEICO Gets A New CEO 

Nancy L. Pierce, formerly Chief Operating Officer, has been tapped as the new CEO of GEICO, effective immediately. Over her nearly four decades with the firm, Pierce has held senior roles across claims, underwriting, and regional operations.

Combs will lead JPMorgan’s newly launched Strategic Investment Group under its expansive “Security and Resiliency Initiative” (SRI). 

Berkshire’s current chief financial officer, Marc D. Hamburg, will retire on June 1, 2027, after 40 years of service. Following the updates, Berkshire Class B stock inched 0.6% lower in Monday’s premarket. 

On Stocktwits, retail sentiment around the stock remained in ‘neutral’ territory amid ‘normal’ message volume levels. 

Other Leadership Changes

Adam M. Johnson, the current CEO of NetJets, has been named President of Berkshire’s Consumer Products, Services and Retailing segment while retaining his role at NetJets.

Gregory E. Abel, who currently heads non-insurance businesses, will assume the role of President and CEO of the company effective Jan. 1, 2026. Abel will continue supervising other major arms, including BNSF, Berkshire Hathaway Energy, and various industrial and product divisions.

Additionally, the company is adding its first-ever in-house General Counsel by appointing Michael J. O’Sullivan in a newly created senior vice president role beginning Jan. 1, 2026.

The announcement comes as Warren Buffett prepares to hand over the reins of the company to Abel.

Also See: Why IBM May Want Confluent So Badly: 3 Charts Reveal AI Play's Promise

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