Buffett chose Greg Abel as his heir – that’s who he is
Warren Buffett faced question after question about one thing in particular at Berkshire Hathaway Inc.’s annual meeting. of the past few days: His successor. Buffett named Greg Abel as heir apparent in 2021, and the VP of non-insurance operations has had a more prominent presence since then. Buffett reiterated on Saturday that he was “100% comfortable” with the decision and even indicated a largely business-as-usual transition, for when that might happen.
“Greg understands capital allocation as much as I do. It’s fortunate for us,” Buffett said during the meeting in Omaha, Nebraska. “I think he’s going to make these decisions the same way I would. We’ve been drawing this picture for 30 years.”
Abel, 60, who joined Buffett and his longtime business partner Charlie Munger on stage, he built Berkshire’s energy business to one of the largest in the United States. Buffett recently joked that Abel does “all the work.”
As Corriere della Sera explains, “on addition to competence and loyalty, Buffett appreciated Abel’s discretion but this year, in the face of increasingly restless shareholders who fear for the future of a group led by a 92-year-old financier and another almost centenary, has also decided to bring his successor to the stage who, although a little awkward, responded promptly and competently to a fire from line of questions”.
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