Berkshire Chooses Greg Abel as Warren Buffett's Successor in CEO Role

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    Berkshire Chooses Greg Abel as Warren Buffett's Successor in CEO Role

    Berkshire Hathaway Inc.’s famous Chief Executive Warren Buffett, the billionaire who has led the conglomerate for more than 50 years, is to be succeeded as CEO by vice chairman Greg Abel, putting to rest one of the biggest succession questions in corporate America.

    Mr. Abel will oversee the sprawling Omaha, Neb., conglomerate that owns such well-known firms as auto insurer Geico and fast-food chain Dairy Queen.

    Mr. Abel, a 59-year-old Canadian, isn’t expected to take the role immediately. He currently heads all non-insurance operations at Berkshire. He rose through the ranks in Berkshire’s energy operations and has handled several large company acquisitions.

    Some chief executives of Berkshire’s many portfolio companies said Mr. Abel is on regular calls with them and Mr. Buffett, and separately checks in with them directly.

    Investors described Mr. Abel as a level-headed presence likely to run the company in a similar way to Mr. Buffett.

    Published at Mon, 03 May 2021 21:15:00 +0000

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