Billionaire value investor Warren Buffett's investment giant Berkshire Hathaway, on 5 May 2025, announced that the conglomerate's Vice Chairman, Greg Abel, will succeed Warren Buffett, who is officially stepping down as the Chief Executive Officer (CEO) at the end of the day on 31 December 2025.
Mint reported earlier that the ‘’Oracle of Omaha' or Warren Buffett will now assume the Chairman role after handing over the reins of the investment giant to his close aide Abel with the turn of the year into 2026.
Greg Abel will take charge as the CEO of Berkshire Hathaway effective 1 January 2026, according to the company's announcement in the previous annual general meeting.
“I think the time has arrived where Greg should become the Chief Executive Officer of the company at year end,” Buffett told shareholders and investors in the May meeting.
Who is Greg Abel?
Greg Abel, who was born in Edmonton, Alberta, Canada, has been a close aide to billionaire Warren Buffett, working with an active role managing the companies within the conglomerate. After succeeding Warren Buffett is still expected to live in Des Moines, Iowa, two hours away from the value investor.
Greg Abel has been heading the BNSF, Berkshire's railroad company, food brands Dairy Queen and See's Candies, and other manufacturing and retail businesses, since 2018.
Over the years, Abel, even though out of the spotlight, has been interacting with the media during appearances at Berkshire Hathaway's annual meetings and interviews alongside Warren Buffett.
Although Greg Abel has long been Warren Buffett and the late Charlie Munger's choice to succeed Buffett, the company's board of directors approved the same in 2025.
“I think hard work leads to good outcomes. In my schooling, in sports, and in my business positions, I learned that if I put in a lot of work and was well-prepared, then success would be more likely,” said Greg Abel, back in an interview in 2018.
Challenges for new CEO Greg Abel
Effective 1 Janaury 2026, Greg Abel will take over Berkshire Hathaway's various businesses as the new CEO of the conglomerate, which employs more than 400,000 employees and has a presence in multiple ventures.
Investors are now focusing on Abel to make an impact on Berkshire Hathaway's trajectory. However, the agency report from AP highlights that the investors are not expecting any seismic shifts.
“I think the investment community would likely applaud Greg’s management style to the degree that it sort of buttons things up,” CFRA Research analyst Cathy Seifert told the news agency. “And if it helps performance, that can’t really be faulted.”
