Warren Buffett confirms Greg Abel as Berkshire Hathaway CEO successor
Abel, currently vice-chairman, will take over the reins from Buffett, who has led the company for more than 50 years
The transition is expected to take place in the next few years, Buffett said in a statement
Warren Buffett has confirmed that Greg Abel will succeed him as CEO of Berkshire Hathaway. Abel, currently vice-chairman, will take over the reins from Buffett, who has led the company for more than 50 years. The transition is expected to take place in the next few years, Buffett said in a statement.
Abel has been with Berkshire Hathaway since 1985, and has been vice-chairman since 2018. He is responsible for overseeing the company's non-insurance businesses, including Berkshire Hathaway Energy, BNSF Railway, and McLane Company.
Buffett said that Abel is "the right person to lead Berkshire Hathaway into the future." He praised Abel's "intellect, judgment, and character," and said that he is confident that Abel will "continue to build on the company's success."
The announcement of Abel's succession comes as Buffett, 90, prepares to step down as CEO. Buffett has not said when he will retire, but he has said that he wants to remain chairman of Berkshire Hathaway for as long as he is able.
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