Warren Buffett names new Berkshire Hathaway vice chairs

Warren Buffet
CEO of Berkshire Hathaway, Warren Buffett. Photo: Daniel Zuchnik / WireImage via Getty Images.

Warren Buffett announced on CNBC that he has appointed Ajit Jain and Gregory Abel as vice chairs on the board of Berkshire Hathaway, increasing the number of directors from 12 to 14.

Why it matters: The move cements both leaders as potential successors to Buffett as CEO of the conglomerate.