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Ian Cumming stepping down


twacowfca
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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.

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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.

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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!!

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