Meet the Rising Star Who Aims to Match Warren Buffett’s Over 5,000,000% Return on Investment | CNN Business

Berkshire Hathaway’s recent annual shareholder meeting brought surprising news: Warren Buffett announced he would step down as CEO at the end of this year. At 94, Buffett has led the company for decades, creating a legacy that few can match. He revealed that Greg Abel, currently the CEO of Berkshire Hathaway Energy, will take over.

This announcement wasn’t entirely unexpected. Buffett had hinted at Abel being his successor back in 2021, stating that if anything happened to him, Abel would step in immediately. Abel, 62, has been with Berkshire for 25 years and has a strong track record.

Buffett will remain as the executive chairman, providing guidance as Abel takes the reins. Abel’s connection to Canada, where he grew up, adds a unique flavor to his leadership. Buffett has praised Abel for his “common sense” approach and his ability to maintain the company’s culture.

Experts speak highly of Abel, too. Charlie Munger, Berkshire’s former vice-chairman, called him a “remarkable human being” who excels as both a thinker and a doer. Munger also emphasized Abel’s talent for leading through others, a crucial skill in large organizations.

Curiosity plays a big role in Abel’s leadership style. He learned a lot by observing Buffett and believes asking questions is vital for understanding how businesses function. Buffett once said, “Curiosity is important,” a mantra Abel takes to heart.

As Abel prepares to lead, board members express confidence in his abilities. Ron Olson, a long-standing member, affirmed that Abel has been learning about the company’s operations since 2018, making him well-prepared for this significant transition.

While it’s uncertain how Abel will adapt to the spotlight that comes with being CEO, he has received endorsements from figures like Apple CEO Tim Cook. Cook praised Buffett’s influence and expressed confidence in Abel, stating, “Warren is leaving Berkshire in great hands with Greg.”

This leadership transition marks a new era for Berkshire Hathaway. As Abel steps up, he carries not only the weight of expectations but also the hopes of investors and stakeholders who are eager to see how he will shape the company’s future.

For those interested in the ongoing dynamics at Berkshire Hathaway, you can read more in this CNBC article.

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