twacowfca Posted April 13, 2012 Share Posted April 13, 2012 Bloomberg reports that Leucadia announced after the market closed today that Ian Cumming, 71, will be stepping down as Chairman when his contract expires in 2015 Link to comment Share on other sites More sharing options...
Valuebo Posted April 13, 2012 Share Posted April 13, 2012 Sadly true! Our Chairman has decided that he does not plan on requesting a renewal to his employment contract which ends almost coincident with his 75th birthday on July 17, 2015 (which is also the birthday of our President’s youngest daughter – she gets great presents). Over the next few years there will undoubtedly be more developments on the succession front. We will keep you informed. Link to comment Share on other sites More sharing options...
Valuebo Posted April 13, 2012 Share Posted April 13, 2012 Also strong words on Justin Wheeler. We have been diligently working on the issues relating to management succession and will continue to explore opportunities. In addition, in March the Board of Directors elected Justin Wheeler as Chief Operating Officer. Justin has been with Leucadia since 2000 and for the past several years has led our Asset Management Group. He was intimately involved with our successful investment in AmeriCredit Corp. and was the prime mover behind our recent acquisition of National Beef. Though both of us immensely enjoy what we do, we recognize our responsibility to plan for the future and expect Justin to be part of that future. Link to comment Share on other sites More sharing options...
Pablo12345 Posted April 13, 2012 Share Posted April 13, 2012 Leucadia annual letter posted. http://www.leucadia.com/c-p_letters/luk_c-p2011.pdf Link to comment Share on other sites More sharing options...
Liberty Posted April 13, 2012 Share Posted April 13, 2012 End of an era (half an era?). Link to comment Share on other sites More sharing options...
racemize Posted April 13, 2012 Share Posted April 13, 2012 we still get three more years! Link to comment Share on other sites More sharing options...
WarrenWatsa Posted April 13, 2012 Share Posted April 13, 2012 At the 2009 shareholders meeting, he had said he hoped to stay on past 2015. So, this comes as a little bit of a surprise. Don't blame a guy for stepping down at 75, though. Link to comment Share on other sites More sharing options...
link01 Posted April 13, 2012 Share Posted April 13, 2012 ian cumming will be missed. what an incredible record he & js have put together over the years. along with web & munger they've set me in good stead early on when i knew even less than i know now! i can only wish him heath & happiness in his autumn years, along with a good glass of one & another his favorite crimson wines shared with friends & family. cheers, ian!! Link to comment Share on other sites More sharing options...
scorpioncapital Posted April 14, 2012 Share Posted April 14, 2012 Ian was the older one, perhaps we'll get another 10 years from the current president who is his close partner! Link to comment Share on other sites More sharing options...
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