Overview
- Greg Abel has assumed the chief executive role effective January 1, with Buffett staying on as chairman.
- In a CNBC interview, Buffett said Berkshire is likelier than any company he knows to endure for the next century.
- Buffett said he will attend Berkshire’s annual meeting this year but will not take the stage and will reduce public appearances.
- He praised Abel as a steady leader and said he would entrust his own money to Abel over top investment advisers or CEOs.
- Berkshire has grown into a more than $1 trillion conglomerate spanning insurance and railroads, holds over $300 billion in cash, employs nearly 400,000 people, and its shares have lagged since his retirement announcement in May raised investor questions about the transition.