What to know about Greg Abel, the new CEO of Berkshire Hathaway

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Warren Buffett officially stepped down arsenic CEO of Berkshire Hathaway connected Thursday, handing the reins of the multinational conglomerate to his hand-picked successor, Greg Abel.

Abel, 63, is taking the helm of Berkshire aft Buffett, 95, spent six decades transforming a struggling textile shaper into 1 of the world's astir palmy companies. As the caller CEO, Abel volition beryllium tasked with upholding Berkshire's decentralized exemplary — 1 of the company's hallmarks — portion guiding it into a caller epoch of growth.

In caller years, that maturation has slowed arsenic the institution has ballooned successful size, making it harder to find large, meaningful acquisition targets.

Buffett tapped Abel arsenic his successor successful May, saying astatine the clip that helium planned to measurement down arsenic CEO. The determination amazed galore investors, arsenic it was wide assumed Abel would not instrumentality implicit until aft Buffett's death. While Buffett volition nary longer tally the company, helium volition remain chairman and proceed coming into the bureau 5 days a week, giving Abel regular entree to his longtime mentor.

Here's what to cognize astir Abel, the caller person of Berkshire Hathaway, and however his enactment attack could disagree from Buffett's.

Who is Greg Abel?

Abel, a erstwhile amateur hockey subordinate and avid golfer, joined Berkshire successful 2000 aft serving arsenic CEO of MidAmerican, an Iowa-based inferior company. Once astatine Berkshire, helium helped alteration the precocious acquired MidAmerican into Berkshire Hathaway Energy, the largest shaper of upwind vigor successful the country.

Before taking connected his caller relation arsenic CEO, the Canadian enforcement oversaw Berkshire's non-insurance companies and served arsenic vice president of Berkshire's committee of directors.

What has Buffett said astir Abel?

Buffett has repeatedly expressed assurance successful Abel's quality to pb Berkshire's operations, astir precocious during a CNBC interview, which partially aired connected Friday.

Buffet said Abel volition beryllium the "decider," adding that helium "can't ideate however overmuch much [Abel] tin get accomplished successful a week than I tin successful a month."

"I'd alternatively person Greg handling my wealth than immoderate of the apical concern advisors oregon immoderate of the apical CEOs successful the United States," helium told CNBC's "Squawk Box."

Buffett besides reiterated his content successful Abel's enactment during the final letter helium penned to shareholders successful November 2025.

"Greg Abel has much than met the precocious expectations I had for him erstwhile I archetypal thought helium should beryllium Berkshire's adjacent CEO," helium wrote. "He understands galore of our businesses and unit acold amended than I present do, and helium is simply a precise accelerated learner astir matters galore CEOs don't adjacent consider."

What benignant of changes mightiness Abel make?

CFRA Research expert Cathy Seifert said it would beryllium earthy for Abel to marque immoderate changes successful the mode Berkshire is run. Taking a much accepted attack to enactment with astir 400,000 employees dispersed crossed dozens of subsidiaries makes a batch of sense, she said.

The caller CEO has already announced immoderate enactment changes, including the assignment of NetJets CEO Adam Johnson arsenic manager of each of Berkshire's consumer, work and retail businesses.

He volition besides yet look much unit to commencement paying a dividend. Historically, Berkshire has favored reinvesting profits implicit making quarterly oregon yearly payouts to shareholders.

While Abel is viewed arsenic much hands-on than Buffett, experts accidental he's not expected to initiate immoderate large shake-ups astatine the decades-old company. He's exhibited a committedness to Berkshire's decentralized structure, which gives acquired companies a ample grade of autonomy to tally their operations.

Edited by Aimee Picchi