June 8, 2018 / 2:17 AM / 6 months ago

Geisinger's Feinberg not going to lead Amazon-Berkshire-JPM health venture - CNBC

FILE PHOTO: Warren Buffett, CEO of Berkshire Hathaway Inc, gestures while playing bridge as part of the company annual meeting weekend in Omaha, Nebraska U.S. May 6, 2018. REUTERS/Rick Wilking

(Reuters) - Geisinger Health System Chief Executive David Feinberg told CNBC on Thursday that he will not lead the Amazon-Berkshire-JPMorgan health venture, adding that he remains committed to Geisinger.

Feinberg was the top candidate in discussions to lead the healthcare company being formed by Amazon.com Inc (AMZN.O), Berkshire Hathaway Inc (BRKa.N) and JPMorgan Chase & Co (JPM.N), after beating two other candidates that made the final rounds, CNBC reported earlier on Thursday, citing people close to the selection process.

Feinberg has been advising the group since the three companies announced in January that they would form a healthcare company aimed at cutting costs for their U.S. employees, but he ultimately emerged as a top pick to lead the initiative himself, a person familiar with the matter told CNBC.

JPMorgan and Berkshire were not immediately available for a response. Geisinger Health System and Amazon did not immediately return a request for comment.

Billionaire investor Warren Buffett and JPMorgan CEO Jamie Dimon said in an interview aired earlier on Thursday on CNBC that in the next two weeks they were likely to name a chief executive for the healthcare joint venture.

Reporting by Rishika Chatterjee and Ishita Chigilli Palli in Bengaluru; Editing by Leslie Adler and Sunil Nair

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