Who is Greg Abel, Warren Buffett’s choice to replace him as CEO of Berkshire Hathaway
After decades of leading Berkshire Hathaway, Warren Buffett surprised investors by announcing his plan to step down as CEO at the end of the year. The 94-year-old investment guru revealed his intention to recommend Greg Abel as his successor during the annual shareholders gathering, known as the “Woodstock for capitalists.”
Buffett expressed his confidence in Abel, stating that “the time has arrived” for him to take over as CEO. Abel, currently overseeing Berkshire’s non-insurance companies, has been with the company since it acquired MidAmerican in 2000. Under Abel’s leadership, MidAmerican transformed into Berkshire Hathaway Energy, becoming the largest wind energy producer in the country.
Who is Greg Abel?
Greg Abel, a native of Alberta, Canada, has been a key figure at Berkshire Hathaway for many years. His tenure at the company began with the acquisition of MidAmerican, where he served as CEO of the Iowa utility. Abel’s business acumen and leadership skills led to the growth of Berkshire’s utility operations, generating billions in annual revenue.
Named vice chairman of Berkshire Hathaway in 2018, Abel is praised for his hands-on approach and strong relationships with Berkshire’s managers. Despite the challenge of following in Buffett’s footsteps, Abel’s strategic vision and operational expertise make him a suitable choice for CEO.
During his time in Omaha in the 1990s, Abel lived just blocks away from Buffett, although the two never crossed paths. With Buffett’s endorsement and confidence, Abel is poised to lead Berkshire Hathaway into a new era of growth and success.
