Who is Gregory Abel, the New CEO of Berkshire Hathaway After Warren Buffett?

Warren Buffett, the legendary investor known as the "Oracle of Omaha," has announced that he will retire as the CEO of Berkshire Hathaway, a position he has held for over 60 years. His successor will be Gregory E. Abel, the current Vice Chairman of Berkshire Hathaway.

Background of Gregory Abel

Gregory E. Abel, 62, joined Berkshire Hathaway in January 2018 as Vice Chairman for non-insurance operations. He was officially named Buffett’s successor in 2021, after Charlie Munger, the former Vice Chairman, accidentally revealed the news during the annual meeting. Since then, Abel has kept a low profile, though shareholders have come to know him through annual meetings and interviews with Buffett.

Berkshire Hathaway's board will soon vote to formally approve Abel as the new CEO, a transition expected to take place by the end of 2025. Buffett has expressed confidence that the approval will be unanimous.

Abel’s Career and Contributions

Abel began his career as a chartered accountant with PricewaterhouseCoopers before moving into the utility and energy sector. In 1992, he joined CalEnergy, which later became Berkshire Hathaway Energy after being acquired by Berkshire. Abel became the CEO of the company, which was renamed Berkshire Hathaway Energy.

Outside of Berkshire, Abel is the president of the Horatio Alger Association of Distinguished Americans. He has also served on the boards of several organizations, including The Kraft Heinz Company, AEGIS Insurance Services, Inc., and the Mid-Iowa Council Boy Scouts of America, among others.

Buffett’s Views on Japanese Investments

Recently, Warren Buffett expressed his strong support for the five Japanese trading houses in which Berkshire Hathaway has invested. He highlighted Berkshire’s increased stakes in Itochu, Marubeni, Mitsubishi, Mitsui, and Sumitomo, which now range up to 9.8%.

This marks a significant phase in both Buffett’s retirement plans and Berkshire Hathaway’s leadership transition, with Abel poised to carry forward the legacy of one of the world’s most successful investment firms.

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