Overview

• Warren Buffett announced Greg Abel will succeed him as Berkshire Hathaway CEO by the end of 2025, while Buffett will remain chair of the board.
• Buffett praised Abel as a “natural” talent in business and capital allocation, adding that Berkshire’s prospects may improve under Abel’s leadership.
• Greg Abel, 62, has been with Berkshire for 25 years, overseeing its energy and railroad businesses with a strong track record of success.
• Abel emphasized the importance of hard work and preparation for success, while acknowledging the role of luck in achieving outcomes.
• Abel’s modest beginnings and practical philosophy align with Buffett’s values, ensuring continuity in Berkshire’s culture and strategy.