CEO of Berkshire's Gen Re Resigns

OMAHA, Neb. -— The chief executive officer of General Re Corp. is resigning amid reports that federal prosecutors were pushing for his removal.

Joseph Brandon, who led one of Berkshire Hathaway Incorporated's largest reinsurance subsidiaries, will be replaced by General Re's President Franklin "Tad" Montross.

Pressure for Brandon to step down Monday had increased after four former executives at the company were convicted on fraud charges.

Berkshire Hathaway spokeswoman Jackie Wilson says no one is available to discuss the leadership change at General Re.

Omaha, Nebraska-based Berkshire is led by legendary investor Warren Buffett.

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