Latest news with #CEOtransition
Yahoo
4 hours ago
- Business
- Yahoo
Prediction: Buying Berkshire Hathaway Stock Today Could Set You Up for Life
Warren Buffett is stepping down as CEO this year. But there are two reasons to believe his company's future remains bright. 10 stocks we like better than Berkshire Hathaway › The news is finally official: Warren Buffett will step down as Berkshire Hathaway's (NYSE: BRK.A)(NYSE: BRK.B) chief executive officer by the end of 2025. Why? "There was no magic moment," Buffett told reporters. "How do you know the day that you become old?" If you think Berkshire Hathaway is no longer a good investment without Buffett at the helm, think again. He has been getting the transition ready for years. In many ways, little will change. The company will largely be headed by his handpicked successors, who are already employed by Berkshire. This team is responsible for some of its biggest investments. Could buying Berkshire stock still set you up for life? Absolutely. In fact, there are two reasons to remain excited over the long term. The stock has been one of the best-performing investments of all time, posting double-digit percentage annual returns for decades at a time. While it hasn't been a major drain on returns yet, Berkshire's growing cash pile will increasingly become a problem when it comes to matching the market's returns. It's hard enough to beat the market year after year. It's even harder to do when a significant amount of your capital is tied up in cash. With a market cap of around $1 trillion, Berkshire holds nearly $350 billion in cash, a company record. Fortunately, Buffett's investment team is ready for the challenge. How do we know? Without them, it's possible that nearly half of Berkshire's valuation would be tied up in cash right now. In 2016, management made an unlikely move: It purchased shares of Apple. Buffett had long avoided tech stocks like this. "I know as much about semiconductors or integrated circuits as I do of the mating habits of the chrzaszcz [a Polish beetle]," Buffett once said. In 2012, he claimed that he would never buy shares of Apple because he just didn't know how to value them. Yet four years later, the company began loading up on Apple shares. Today, it's the biggest position in its publicly traded portfolio, with a value of more than $60 billion. What changed? It wasn't Buffett, but rather two of his investing lieutenants: Todd Combs and Ted Weschler. These are the two figures widely believed to be responsible for the huge bet on Apple. It has netted Berkshire huge profits over the years, a testament to Combs' and Weschler's prowess. With more cash than ever, Berkshire will need fresh ideas to keep its streak of high annual returns going. Fortunately, we already have evidence that the remaining team can put big money to work with fantastic results, a strongly optimistic sign for the decades to come. Berkshire is in great hands when it comes to its investment capabilities. Weschler and Combs alone are already responsible for one of the biggest and most profitable bets in company history. But what about the rest of the business? On that front, everything remains in place as well. Perhaps the company's biggest advantage has been its organizational structure. At the core sits a portfolio of insurance businesses. While not hugely profitable, they generate a lot of investable cash. Buffett calls this excess cash "float." Float is generated because insurance companies collect premiums on policies, but don't need to pay out that cash until a claim is filed. Decades ago, Buffett realized that this was essentially free investment capital. By investing this float, he has turned his company into what it is today. Beyond that, Berkshire does have a publicly traded portfolio. But it also owns a long list of private businesses. Each one, Buffett stresses, operates largely autonomously. "The important thing we do with managers is to find the .400 hitters and then not tell them how to swing," he has said. Even after Buffett steps down, none of this will change. The company will retain the same structural advantages that have fueled its huge rise over the decades. So if you own shares or are still thinking about jumping in, Berkshire Hathaway remains one of the few "buy it for life" companies. Before you buy stock in Berkshire Hathaway, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Berkshire Hathaway wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $704,676!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $950,198!* Now, it's worth noting Stock Advisor's total average return is 1,048% — a market-crushing outperformance compared to 175% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 23, 2025 Ryan Vanzo has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple and Berkshire Hathaway. The Motley Fool has a disclosure policy. Prediction: Buying Berkshire Hathaway Stock Today Could Set You Up for Life was originally published by The Motley Fool Sign in to access your portfolio
Yahoo
4 days ago
- Business
- Yahoo
Orlando Magic CEO Alex Martins to step down
The Orlando Magic confirmed Tuesday that its CEO, Alex Martins, is stepping down. Alex Martins will transition to the Magic's Vice Chair role effective July 1, and Charlie Freeman, currently President of Business Operations, will move into the CEO role. Advertisement 'We thank Alex for his exemplary service to the Magic organization as CEO,' said Orlando Magic Chairman Dan DeVos. 'Since joining the team in 1989, Alex's commitment to excellence has distinguished him as an extraordinary leader in our organization and the Orlando community.' Ryan DeVos will step into an expanded role as Managing Director, working closely with Charlie Freeman, Jeff Weltman, and the Magic Board of Directors. Officials said his responsibilities will include aligning the Magic organization with DeVos family values and deepening community and partner relationships. Click here to download our free news, weather and smart TV apps. And click here to stream Channel 9 Eyewitness News live.
CTV News
6 days ago
- Business
- CTV News
Hormel Foods' former CEO Jeffrey Ettinger to return on interim basis
A former CEO of Hormel Foods, the parent company for Skippy peanut, butter returns on an interim basis. Hormel Foods said on Monday former CEO Jeffrey Ettinger will return to helm the Skippy peanut butter maker on an interim basis for 15 months starting July 14. Ettinger, 66, served as chief executive from 2005 to 2016 and will replace current Hormel CEO and president James Snee, 57, who announced his retirement in January. The management transition comes after the company last month tightened its annual profit forecast towards the lower end as it struggles with supply chain issues and weak demand. Snee will serve as a special advisor to the company until Oct. 26 this year, and Hormel expects him to stay on as a consultant for another 18 months after that, the company said in a regulatory filing. The company said it plans to name a permanent CEO in October next year. It has also appointed John Ghingo, executive vice president for the retail business unit, as president of the company, also effective July 14. Hormel had previously said Snee will serve as a strategic advisor to the board until the end of his tenure and for 18 months afterward. (Reporting by Neil J Kanatt in Bengaluru; Editing by Leroy Leo)
Reuters
6 days ago
- Business
- Reuters
Hormel Foods' former CEO Jeffrey Ettinger to return on interim basis
June 23 (Reuters) - Hormel Foods (HRL.N), opens new tab said on Monday former CEO Jeffrey Ettinger will return to helm the Skippy peanut butter maker on an interim basis for 15 months starting July 14. Ettinger, 66, served as chief executive from 2005 to 2016 and will replace current Hormel CEO and president James Snee, 57, who announced his retirement in January. The management transition comes after the company last month tightened its annual profit forecast towards the lower end as it struggles with supply chain issues and weak demand. Snee will serve as a special advisor to the company until October 26 this year, and Hormel expects him to stay on as a consultant for another 18 months after that, the company said in a regulatory filing. The company said it plans to name a permanent CEO in October next year. It has also appointed John Ghingo, executive vice president for the retail business unit, as president of the company, also effective July 14. Hormel had previously said Snee will serve as a strategic advisor to the board until the end of his tenure and for 18 months afterward.
Yahoo
17-06-2025
- Business
- Yahoo
Protecht CEO transition marks new chapter in company's growth journey
SYDNEY, June 17, 2025 /PRNewswire/ -- Protecht, a global leader in enterprise risk management software, today announces that David Bergmark will be stepping down from his role as Chief Executive Officer, effective 1 July, following more than seven years in the role and over 25 years with Protecht as a co-founder. During his tenure as CEO, David has overseen the company's successful expansion into the UK and USA, led significant growth, and recently guided the business through a major investment from PSG, marking a new chapter in the company's evolution. "I'm incredibly proud of everything our team has accomplished over the past 25 years," said David Bergmark. "From humble beginnings to becoming a global leader in enterprise risk management, we've built something truly special. This transition is a natural step forward for Protecht, and I'm confident we are well positioned for even greater success in the years ahead." David will remain actively involved in the business, taking on the role of Director and Strategic Advisor, and will continue to contribute to the areas he is most passionate about, particularly product innovation and customer relationships. David will also remain a member of the Board of Directors. From 1 July, Jason Phillips, Protecht's current Chief Operating Officer, will step into the role of CEO. With over four years at Protecht, Jason has played a pivotal role in scaling the business and driving its international expansion. He brings deep expertise in strategic operations, SaaS growth, and aligning teams across global markets to deliver strong customer outcomes. "I'm excited to continue working with our customers to make risk management more accessible and impactful across their organisations," said Jason Phillips, incoming CEO. "Our focus on innovation, particularly through AI-driven capabilities, will ensure we keep delivering solutions that help customers stay ahead in an increasingly complex risk environment. I'm honoured to lead Protecht into this next phase of growth." About Protecht With offices in Sydney, Los Angeles, and London, Protecht Group provides innovative risk management solutions, including the Protecht ERM (enterprise risk management) platform. Trusted by organizations across government, financial services, education, and other industries, Protecht empowers businesses to manage risk holistically, transitioning from spreadsheets and manual processes to efficient, integrated systems. View original content to download multimedia: SOURCE Protecht Group Sign in to access your portfolio
