Berkshire Selects Greg Abel as Warren Buffett'' s Successor in CEO Function
< img src="https://images.wsj.net/im-333199/social" class="ff-og-image-inserted"/ > Berkshire Hathaway Inc.’s well-known Chief Executive Warren Buffett, the billionaire who has actually led the corporation for more than 50 years, is to be prospered as CEO by vice chairman Greg Abel, laying to rest one of the most significant succession questions in corporate America.
Mr. Abel will manage the sprawling Omaha, Neb., conglomerate that owns such widely known companies as auto insurance company Geico and fast-food chain Dairy Queen.
Mr. Abel, a 59-year-old Canadian, isn’t expected to take the function instantly. He currently heads all non-insurance operations at Berkshire. He increased through the ranks in Berkshire’s energy operations and has actually dealt with numerous big company acquisitions.
Some chief executives of Berkshire’s many portfolio companies said Mr. Abel is on routine calls with them and Mr. Buffett, and individually checks in with them directly.
Investors described Mr. Abel as a level-headed existence likely to run the company in a comparable way to Mr. Buffett.
Published at Mon, 03 May 2021 21:15:00 +0000
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