{"id":23087,"date":"2025-05-03T20:20:03","date_gmt":"2025-05-03T20:20:03","guid":{"rendered":"https:\/\/site.itshrt.com\/worldnews\/who-is-greg-abel-warren-buffetts-choice-to-replace-him-as-ceo-of-berkshire-hathaway\/"},"modified":"2025-05-03T20:20:03","modified_gmt":"2025-05-03T20:20:03","slug":"who-is-greg-abel-warren-buffetts-choice-to-replace-him-as-ceo-of-berkshire-hathaway","status":"publish","type":"post","link":"https:\/\/site.itshrt.com\/worldnews\/who-is-greg-abel-warren-buffetts-choice-to-replace-him-as-ceo-of-berkshire-hathaway\/","title":{"rendered":"Who is Greg Abel, Warren Buffett&#8217;s choice to replace him as CEO of Berkshire Hathaway"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<\/p>\n<div id=\"\">\n<p>Warren Buffett shocked an arena full of his shareholders when he announced his intention Saturday to <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/warren-buffett-tariffs-trump-trade-weapon\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">step down<\/a><\/span> as the CEO of Berkshire Hathaway at the end of the year.\u00a0<\/p>\n<p>The 94-year-old legendary investor also said he will recommend to his board that Greg Abel should become CEO.<\/p>\n<p>Buffett said at his annual shareholders gathering, often called &#8220;Woodstock for capitalists,&#8221; that he thinks the &#8220;time has arrived&#8221; for Abel to move into the corner office.<\/p>\n<p>&#8220;I would still hang around, and could conceivably be useful in a few cases, but then, but the final word would be what Greg said in operations, in capital, appointment, whatever it might be,&#8221; Buffett said.<\/p>\n<p>Two other investment managers will take charge of the company&#8217;s stock portfolio.<\/p>\n<p>Buffett has repeatedly <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/warren-buffett-berkshire-hathaway-first-annual-meeting-since-charlie-munger-death\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">reassured investors<\/a><\/span>\u00a0that he&#8217;s confident in the pick, but who is Greg Abel, his designated successor?<\/p>\n<h2>Who is Greg Abel?<\/h2>\n<p>Warren Buffett <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/greg-abel-warren-buffett-successor-berkshire-hathaway\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">said in 2021 <\/a><\/span>that Greg Abel, his top lieutenant for many years and an energy executive, would become CEO when he retired. Buffett also often famously said he has no plans to retire.<\/p>\n<p>Abel, who currently oversees all of Berkshire&#8217;s non-insurance companies, was born in Alberta, Canada, according to a 2016\u00a0<a href=\"https:\/\/fortune.com\/longform\/warren-buffett-wind-power-berkshire-hathaway-energy\/\" target=\"_blank\" rel=\"nofollow noopener\">Fortune<\/a>\u00a0profile of the executive. The former amateur hockey player and avid golfer joined Berkshire in 2000 when the insurance company acquired MidAmerican. Abel was CEO of the Iowa utility, a regional energy provider with just $122 million in sales.<\/p>\n<figure class=\"embed embed--type-image is-image embed--float-none embed--size-medium\">\n<p>      <span class=\"img embed__content\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/assets2.cbsnewsstatic.com\/hub\/i\/r\/2021\/05\/03\/1cfc8064-bf05-4fa3-a957-e25e5feb5eb4\/thumbnail\/620x413\/0fdb6aa9a9b4efc7481db39e4a4239ee\/gettyimages-679716256.jpg?v=7c5acc180b39394767372ab4e02619ce#\" alt=\"Inside The Berkshire Hathaway Inc. Annual General Meeting \" height=\"413\" width=\"620\" class=\" lazyload\" srcset=\"https:\/\/assets2.cbsnewsstatic.com\/hub\/i\/r\/2021\/05\/03\/1cfc8064-bf05-4fa3-a957-e25e5feb5eb4\/thumbnail\/620x413\/0fdb6aa9a9b4efc7481db39e4a4239ee\/gettyimages-679716256.jpg?v=7c5acc180b39394767372ab4e02619ce 1x, https:\/\/assets3.cbsnewsstatic.com\/hub\/i\/r\/2021\/05\/03\/1cfc8064-bf05-4fa3-a957-e25e5feb5eb4\/thumbnail\/1240x826\/7ad15781b1b095d57a02e81b234c0b45\/gettyimages-679716256.jpg?v=7c5acc180b39394767372ab4e02619ce 2x\" loading=\"lazy\"\/><\/span><figcaption class=\"embed__caption-container\">\n<p>                  <span class=\"embed__caption\">Greg Abel, chairman and chief executive officer of Berkshire Hathaway Energy Co., center, speaks with attendees before the start of the Berkshire Hathaway Inc. annual meeting in Omaha, Nebraska, U.S.,<\/span><\/p>\n<p>                  <span class=\"embed__credit\"><\/p>\n<p>                Bloomberg<\/p>\n<p>                          <\/span><br \/>\n              <\/figcaption><\/figure>\n<p>Once at Berkshire, Abel rebuilt MidAmerican into Berkshire Hathaway Energy, the largest producer of wind energy in the country. Berkshire&#8217;s utility operations now generate billions in annual revenue.<\/p>\n<p>Abel was named vice chairman of Berkshire Hathaway in 2018. Although he has been at the company for more than two decades, he is considered to be much more guarded and hands-on than Buffett.\u00a0<\/p>\n<p>&#8220;I think we&#8217;ll get a more hands-on manager and that could be a good thing,&#8221; Steven Check, who runs Check Capital Management, said beforehand, the Associated Press reported. But he said Abel also knows that those managers enjoy the freedom to run their businesses and Abel isn&#8217;t going to do anything to turn them off.<\/p>\n<p>Abel is well regarded by Berkshire&#8217;s managers and Buffett has praised his business acumen for years, the AP said. But he will have a hard time matching Buffett&#8217;s legendary performance, and since he doesn&#8217;t control 30% of Berkshire&#8217;s stock like Buffett does, he won&#8217;t have as much leeway.<\/p>\n<p>Abel lived in Omaha <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/warren-buffett-letter-berkshire-hathaway-charlie-munger\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">for six years<\/a><\/span>\u00a0in the 1990s, just a few blocks from Buffett. During that time, the two had never met, according to Buffett.\u00a0<\/p>\n<p class=\"content__meta--contributors\">\n      <em><\/p>\n<p>                      <span class=\"byline__author__text\">The Associated  Press<\/span> and <\/p>\n<p>                                  <a href=\"https:\/\/www.cbsnews.com\/team\/kate-gibson\/\" class=\"byline__author__link\" data-invalid-url-rewritten-http=\"\">Kate  Gibson<\/a><\/p>\n<p>        contributed to this report.<br \/>\n      <\/em>\n    <\/p>\n<p>    <!-- data-recirc-source=\"queryly\" --><\/p>\n<aside class=\"component list recirculation component--type-recirculation \">\n<p><h3 class=\"component__title\">More from CBS News<\/h3>\n<\/p>\n<\/aside>\n<p>    <!-- tags --><\/p>\n<div class=\"content-author\">\n      <a href=\"https:\/\/www.cbsnews.com\/team\/cara-tabachnick\/\" class=\"content-author__name\" data-invalid-url-rewritten-http=\"\">Cara  Tabachnick<\/a><\/p>\n<div class=\"content-author__bio\">\n<div class=\"content-author__full-information\">\n<p class=\"content-author__text\">Cara Tabachnick is a news editor at CBSNews.com. Cara began her career on the crime beat at Newsday. She has written for Marie Claire, The Washington Post and The Wall Street Journal. She reports on justice and human rights issues. Contact her at cara.tabachnick@cbsinteractive.com<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cbsnews.com\/news\/greg-abel-warren-buffett-ceo-of-berkshire-hathaway-who-is\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Warren Buffett shocked an arena full of his shareholders when he announced his intention Saturday to step down as the<\/p>\n","protected":false},"author":1,"featured_media":23088,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[32],"tags":[],"class_list":["post-23087","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-stories"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Who is Greg Abel, Warren Buffett&#039;s choice to replace him as CEO of Berkshire Hathaway - World News<\/title>\n<meta name=\"description\" content=\"Warren Buffett announced Saturday he would step down as CEO of Berkshire Hathaway at the end of the year.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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