General RE in trouble???
Joseph Brandon, Chairman and Chief Executive Officer of General Re Corporation, a wholly owned subsidiary of Berkshire Hathaway Inc., has decided to resign effective today. Franklin “Tad” Montross, President of General Re Corporation, will replace Mr. Brandon as Chairman and Chief Executive Officer of General Re Corporation.
It is a Buffett Company …
NO REASON GIVEN … ups …
BE AWARE!!!
EDIT: He resigned, amid pressures from U.S. prosecutors. The pressures arose from criminal-fraud convictions earlier this year of four former General Re executives, according to people familiar with the situation. The removal of Brandon, whose resignation took effect Monday, was part of an effort to conclude the government’s investigation into the company, these people said.
Tags: Buffett, General RE
