Overview
- Warren Buffett steps down as Berkshire Hathaway CEO on Dec. 31 and remains chairman, with Greg Abel assuming day-to-day leadership on Jan. 1.
- Berkshire has built a record cash position of about $380–$381 billion after roughly three years of net stock selling, signaling few attractively priced opportunities.
- Abel comes from Berkshire’s energy business and oversees non-insurance operations, offering operational depth rather than a stock-picking pedigree.
- Recent personnel shifts include the December departure of investment lieutenant Todd Combs to JPMorgan Chase, a move reported as a potential concern for succession depth.
- Governance adjustments are under way, including the appointment of Berkshire’s first in-house general counsel, with observers expecting gradual moves toward greater disclosure.