Overview
- Reuters confirms Abel will take the CEO role on Jan. 1, with Buffett remaining chairman and retaining about 29.8% of Berkshire’s voting power.
- Three weeks before the handover, Berkshire detailed a broad reorganization: Todd Combs departs and joins JPMorgan, Nancy Pierce is elevated to lead Geico, Adam Johnson gains oversight of 32 non-insurance businesses, and the company hires its first in-house general counsel.
- Finance chief Marc Hamburg will transfer responsibilities to Charles Chang in June 2026 and delay full retirement until June 2027 to ease the transition, according to the company’s timeline.
- Berkshire has been a net seller of equities for 12 straight quarters and now holds a record cash pile that Reuters pegs at about $381.7 billion, even as shareholders call for dividends, clearer buybacks and improved disclosures.
- Despite its defensive stance, Berkshire has selectively deployed roughly $14 billion in recent months, adding Alphabet shares, buying OxyChem from Occidental (expected to close this month), and boosting stakes in Japanese trading houses.