Berkshire Loses Geico CEO Combs to JPMorgan. It’s Preparing for Life After Buffett.

Shareholders walk past a portrait of Warren Buffett, CEO of Berkshire Hathaway, at an annual shareholders meeting in Omaha, Nebraska. (Johannes Eisele / AFP / Getty Images)

Key Points

• Berkshire Hathaway announced leadership changes, including the departure of investment officer and Geico CEO Todd Combs.
• Todd Combs will join JPMorgan Chase to lead its strategic investment group and advise CEO Jamie Dimon.
• Nancy Pierce will become Geico’s CEO, and Charles Chang will succeed Marc Hamburg as CFO in June 2026.

Berkshire Hathaway announced a raft of leadership changes Monday as the company prepares for life without Warren Buffett at the helm.

It also announced the departure of investment officer and Geico CEO Todd Combs, who will join JPMorgan Chase . Combs will head up the strategic investment group of the bank’s new security and resiliency initiative, as well as acting as a special advisor to CEO Jamie Dimon.

“Todd A. Combs, CEO of GEICO since 2020, has resigned to accept an interesting and important job at JPMorgan,” Buffett said in a press release Monday. “JPMorgan, as usually is the case, has made a good decision,” he added.

Nancy Pierce, will take over as CEO of Geico—the insurance company owned by Berkshire—where she is currently the Chief Operating Officer.

Berkshire’s Chief Financial Officer Marc Hamburg will retire in June 2027 with Charles Chang taking on the role from June 1, 2026 and the pair working together to ensure a “smooth and seamless transition,” the company said.

Buffett will hand over to new CEO Greg Abel at the end of the year.

Berkshire stock was pointing 0.6% lower in premarket trading Monday.

Write to Callum Keown at callum.keown@dowjones.com