LUDLOW. ED: WELCOME TO OUR BLOOMBERG TELEVISION AND RADIO AUDIENCES AROUND THE WORLD. AFTER A THREE-YEAR SEARCH, DISNEY'S BOARD AND ITS CHAIRMAN JAMES GORMAN HAVE NAMED A SUCCESSOR JOSH D'AMARO, PROMOTED FROM PARKS CHIEF TO SUCCEED BOB IGER IN MARCH OF THIS YEAR.MR. GORMAN JOINS US NOW. GOOD MORNING, MR.GORMAN. THANK YOU FOR YOUR TIME. LET'S START WITH A SIMPLE QUESTION.WHY JAMES D'AMARO. JAMES: IT IS JOSH D'AMARO. GOOD MORNING, ED.HE IS A FANTASTIC EXECUTIVE. HE IS STRATEGIC. HE HAS RUN A HUGE OPERATION, O ...

His portfolio includes video games and consumer products. He's overseen numerous high-profile construction projects, including Star Wars: Galaxy’s Edge and the Marvel-themed Avengers Campus at Disneyland as well as the current $60-billion expansion of cruise lines and theme parks, which includes plans for a new venture in Abu Dhabi.A big promotion came in early 2020 when he was entrusted with all of the company's theme parks, cruise lines and its creative cadre of Imagineers.D'Amaro, a native of Massachuset ...

Trucking industry stalwart Schneider (NYSE: SNDR) revealed a strategic leadership shift on Wednesday, January 28, 2026, as part of its ongoing succession planning. Current President and CEO Mark Rourke will transition to Executive Chairman of the Board of Directors effective July 1, 2026, paving the way for Jim Filter, the company’s Executive Vice President and Group President of Transportation and Logistics, to assume the top executive role. Rourke, who has helmed the company since 2019, has been credit ...

Leadership Promotions - Boise Cascade announced the promotion of Dennis Fringuelli to Vice President of Sales and Marketing for the Building Materials Distribution division and Jeff Dracup to Vice President of Sales and Marketing for Engineered Wood Products, effective January 19, 2026 [1] - These promotions are part of a succession planning process aimed at developing internal talent and recognizing leaders who embody the company's values and have shown exceptional performance [4] Executive Backgrounds - Dennis Fringuelli has been with Boise Cascade since 1999, starting as a national account manager and progressing through various roles, including director of BMD sales and marketing [2] - Jeff Dracup joined Boise Cascade in 2004, initially in sales and product management, and has held several progressive positions, including director of EWP sales and marketing [3] Company Overview - Boise Cascade is a leading wholesale distributor of building materials and a major manufacturer of engineered wood products and plywood in North America, operating over 60 distribution and manufacturing facilities across the U.S. and Canada [5] - The company employs over 7,500 people and focuses on delivering outstanding service through an integrated model and national distribution footprint [5]

Group 1 - UBS CEO Sergio Ermotti is set to leave his position in April 2027 after completing the integration of Credit Suisse [1][4] - The bank is currently in discussions with Swiss authorities regarding stricter capital requirements, which may impact its operations [1][5] - UBS's share value has doubled during Ermotti's tenure, despite facing regulatory challenges and disagreements with Swiss authorities over a proposed $24 billion capital buffer increase [5] Group 2 - The search for Ermotti's successor is expected to accelerate ahead of the bank's annual general meeting next year, with potential candidates including Aleksandar Ivanovic, Iqbal Khan, and Robert Karofsky [2][3][6] - Chairman Colm Kelleher is leading the succession planning, aiming for a transition similar to that at Morgan Stanley, which involved multiple internal candidates [6] - Iqbal Khan, who has a contentious history with Credit Suisse, is frequently mentioned as a possible successor and currently heads the Asia-Pacific division [6]

Core Viewpoint - UBS chief executive Sergio Ermotti is set to resign in April 2027, initiating a succession race for a significant position in global banking [1] Group 1 - The planned resignation of Sergio Ermotti marks a pivotal moment for UBS, as it opens the door for potential leadership changes within the company [1] - The announcement has implications for the broader banking industry, as the role of UBS CEO is considered one of the most influential in global finance [1]

Core Viewpoint - Admiral Group announces the retirement of Geraint Jones as Group CFO, with Rachel Lewis set to assume the role from July 2026, following a thorough recruitment process and subject to regulatory approval [1][3]. Group Leadership Transition - Geraint Jones has been with Admiral for 24 years and has been a key figure in the Group's transformation, increasing market capitalization from £3.7 billion to £9.6 billion and growing the customer base to 11 million [2]. - Rachel Lewis, currently CFO of Admiral's UK insurance business, will become Group CFO and join the Board as an executive director, bringing two decades of experience in financial strategy and growth [3][4]. Contributions and Legacy - Geraint Jones expressed pride in his role at Admiral, highlighting the company's commitment to customer service and sustainable growth during his tenure [5]. - CEO Milena Mondini di Focatiis acknowledged Geraint's significant contributions, noting the tripling of the customer base and sustainable growth achieved under his leadership [6]. - Mike Rogers, Chair of the Board, emphasized the importance of succession planning and expressed gratitude for Geraint's leadership during a period of consistent growth [7]. Incoming CFO's Vision - Rachel Lewis expressed her honor in stepping into the Group CFO role, emphasizing her commitment to supporting the company's strategic ambitions and delivering growth through customer excellence [8].

Group 1: CFO Transition at Robinhood - Jason Warnick is retiring as CFO of Robinhood, with Shiv Verma stepping into the role, focusing on finance and strategy [2][6] - Warnick emphasizes the importance of capital allocation and influencing the CEO in a CFO's role [3] - Verma has engaged with CEO Vlad Tenev and other leaders to focus on long-term strategic decisions for Robinhood [4] Group 2: CEO-CFO Partnership - The partnership between the CEO and CFO is critical, as CFOs are seen as strategic thought partners amid rapid technological changes [5] - CFOs provide enterprise-wide visibility and help translate ambiguity into actionable decisions [5] Group 3: Robinhood's Performance and Governance - Robinhood experienced significant changes over the past seven years, including workforce reductions and a shift to a general manager model [6] - In 2024, Robinhood reported total net revenue of $2.95 billion and annual net income of $1.41 billion, and joined the S&P 500 in September [6][7] Group 4: Tesla's Q4 2025 Performance - Tesla produced over 434,000 vehicles and delivered over 418,000 vehicles in Q4 2025, with energy storage deployments reaching a record of 14.2 GWh [12] - For the full year 2025, Tesla delivered 1.64 million vehicles, a 9% decrease from 2024, while BYD sold 2.26 million electric vehicles, becoming the largest EV maker [13]

Core Insights - Warren Buffett expresses strong confidence in Berkshire Hathaway's future longevity, believing it has a better chance of existing in 100 years than any other company [1] - Buffett's confidence is based on the company's governance structure, capital strength, and institutional resilience [2] Governance Structure - Berkshire's decentralized operating model allows subsidiary CEOs to operate with minimal corporate interference, fostering durability [3] - This model attracts entrepreneurial talent while preventing organizational stagnation [3] Financial Strength - Berkshire holds over $358 billion in cash and short-term Treasury securities, along with $283 billion in publicly traded equities, providing significant flexibility [4] - The company generates approximately $900 million in cash from operations weekly, reducing reliance on external capital [4] Succession Planning - Succession planning is transparent, with Greg Abel having managed non-insurance operations for seven years, demonstrating competence [5] - New appointments, including a chief financial officer and general counsel, distribute decision-making authority, reducing organizational fragility [5] Market Reaction - Despite Buffett's optimism, Wall Street remains cautious, with Berkshire's stock lagging behind the broader market following his retirement announcement [6] - The stock rose 10.9% in 2025 but underperformed the S&P 500's 17.5% gain [6] Capital Deployment Challenges - Abel faces pressure to deploy $358 billion in capital while adhering to Buffett's discipline against overpaying for mediocre assets [7] - Investor expectations include initiating dividends, increasing buybacks, or funding strategic acquisitions, which Buffett resisted [7] Management Style - Abel's management style is more hands-on compared to Buffett's trust-and-verify approach, raising questions about its impact on long-term returns [8] - Buffett's 100-year forecast is based on observable institutional strengths, with market agreement to be tested as Abel navigates upcoming earnings reports [8]

Core Insights - The U.S. workforce is facing a significant transformation as a large number of employees are reaching retirement age, with more Americans turning 65 in 2025 than in any previous year, a trend expected to continue through 2027 [1] - A demographic decline in birth rates over the past two decades is leading to a projected labor shortage by 2032, marking the largest in U.S. history [2] Group 1: Phased Retirement - Employers are encouraged to adopt "phased retirement," which allows older employees to gradually reduce their work hours and responsibilities while still contributing their expertise [4] - This approach can help companies mitigate the effects of workforce contraction by retaining institutional knowledge and facilitating succession planning [6] Group 2: Workforce Needs - Over 70% of U.S. employers report difficulty in finding skilled workers, with many recent graduates lacking essential soft skills such as communication and leadership [5] - Retaining experienced employees as mentors can help instill these critical competencies in newer workers [5] Group 3: Older Workers' Perspectives - Many retirees are increasingly interested in continuing to work post-retirement, with those aged 65 and older nearly twice as likely to be employed today compared to the late 1980s [7] - Reasons for this trend include the desire for financial sustainability and the need for engagement in a workplace community [7][8] - Some retirees find the transition from full-time work to retirement abrupt and may seek to maintain a connection to their previous work structure and social networks [8]