Who is the successor of Warren Buffett? Meet Greg Abel, Berkshire Hathway Veteran, who wants Buffett as the new CEO

Warren Buffett made a surprising announcement from his shareholders on Saturday, intending to withdraw from his position by the end of the year. In his statement, Buffett indicated that he would suggest to Berkshire Hathaway’s board that Greg Abel took over as CEOs when the year ends.
The revelation came at the end of the five -hour question -answer session, with no subsequent discussion. Buffett revealed that only his children, Howard and Susie Buffett, who serve on the board were already private for the decision. During the announcement, Abel, sitting next to Buffett, did not receive any advance information about this development.
“I think the time has come where Greg should become the company’s Chief Executive Office at the end of the year,” Buffett said.

Greg Abel, who is the potential successor of Warren Buffett?

Greg Abel, 25 -year -old Berkshire Stalwart will lead a group of $ 865 billion at the end of the year, probably at the end of the year. As the vice -president, investors and analysts estimate that they will continue to stop the installed exercise of the company’s long -term investment strategies, continuing to stop dividend payments to shareholders.
Born on 1 June 1962 in Edmonton, Alberta, Abel comes from a minor onset. In 2018, the Horatio Algeria Association of an academic non-profit Americans, who recognized Abel, said that he earned money through various jobs, including cleaning bottles and serving firefighters.
After his 1984 graduation from the University of Alberta, Abel worked in PricewaterhouseCupers and Caller. He joined the Midamerican Energy (now Berkshire Hathaway Energy) in 1992, which was acquired by Berkshire in 1999. After becoming the head of Midamerican in 2008, he now oversees Berkshire’s non-settlement undertakings, including BNSF, Berkshire Hathaway Energy and many chemical, industrial and retail operations.
According to a report by Reuters, in 2021, Abel was first named as Buffett’s successor for the post of Chief Executive.
For years, Abel has been deployed as the successor of Buffett, overseeing all non-settlement operations in Berkshire. It was always believed that the CEO would receive the post after the death of Abel Buffett, especially there was no intention to take a continuous step as a 94 -year -old.
Abel has effectively managed enough parts of the organization for some time. He will now fulfill these responsibilities until he first oversees insurance operations or investment decisions. Vice chairman Ajit Jain will continue to provide assistance under the supervision of insurance divisions.
According to an AP report, investors express confidence in Abel’s ability to lead Berkshire, although his investment skills remain unused. Buffett demonstrated his trust in Abel during Saturday’s announcement to maintain its financial stake in the company.
Despite the respected position of Ebel, amidst a prolonged recognition of Berkshire’s leadership and their prolonged recognition of his business expertise, he faces significant challenges.
The success of the historical investment of Buffett presents a malignant task, and with a small ownership share compared to 30%of the buffett, Abel will work with low autonomy.