Friday, January 23, 2026 at 8:07 AM
Babcock shares fell over 2% after the company reiterated its full-year guidance and announced the planned retirement of CEO David Lockwood, who will be succeeded by Harry Holt.
David Sokol was seen as the next likely CEO of Berkshire Hathaway—until a controversy arose over his personal trades.
The changes elevate a group of longtime executives and will take effect when the new chief executive takes over next month.
The Fed chair has been asked four times whether he will stay on the board after his term as chair is up. His silence is the strategy.
