INSURASALES
INSURANEWS Logo
Life
Health
Medicare
Property & Casualty
Annuity
Industry

Berkshire Hathaway Names Nancy L. Pierce as GEICO CEO Amid Executive Transitions

Share:

Berkshire Hathaway Inc. has appointed Nancy L. Pierce as the new CEO of its major auto insurance subsidiary, GEICO.

Pierce brings extensive experience within the company, having served since 1986 in various leadership roles including claims, underwriting, product management, and regional operations. Her promotion follows the departure of former CEO Todd A. Combs, who is transitioning to a position at JPMorgan Chase & Co. Berkshire Hathaway CEO Warren Buffett acknowledged Combs' contributions to the company during his tenure since 2020.

This leadership change at GEICO occurs amid broader executive transitions at Berkshire Hathaway, including Warren Buffett's planned retirement as CEO after six decades, with Greg Abel designated to succeed him. Financial analysts at Keefe, Bruyette & Woods note that such executive changes may precipitate further management shifts within the conglomerate.

In parallel, Berkshire Hathaway announced the phased transition of its CFO position. Marc D. Hamburg, who has served for 40 years, will retire effective mid-2027, with Charles C. Chang, currently CFO of Berkshire Hathaway Energy, slated to assume the role from mid-2026. The two executives will collaborate to facilitate a smooth transition.

Additionally, Berkshire Hathaway is establishing a new senior leadership role, appointing Michael J. O'Sullivan as senior vice president and general counsel beginning January 1. O'Sullivan joins from Snap, Inc., where he held the general counsel position since 2017. This new role marks a strategic shift as the conglomerate has traditionally relied on outside counsel for corporate legal matters.

These strategic leadership changes at Berkshire Hathaway reflect ongoing succession planning and a focus on continuity within its insurance and broader business operations. The appointment of an experienced internal candidate like Nancy Pierce at GEICO emphasizes a commitment to operational stability in the competitive U.S. auto insurance market.