Saturday, May 31, 2025

Latest

Canadian Greg Abel Set to Succeed Berkshire Hathaway CEO Warren Buffett By Year-End

Canadian-born Greg Abel is poised to take over as CEO of Berkshire Hathaway (NYSE: BRK.B) by the end of 2025, succeeding the legendary Warren Buffett, who announced his retirement this weekend.

“I think the time has arrived where Greg should become the chief executive officer of the company at year end,” Buffett said.

Abel, a 62-year-old Edmonton native and University of Alberta graduate, has been preparing for this role for years. Having served as vice chairman of Berkshire’s non-insurance operations since 2018, he has demonstrated the steady hand and value-investing philosophy that Buffett believes will ensure continuity for the $1.1 trillion conglomerate.

The announcement comes as Berkshire faces challenging times, with operating earnings down 14% to $9.6 billion in the first quarter, partly due to uncertainty around tariffs and trade policy. However, Berkshire’s shares have gained 33% over the past year and 19% year-to-date, significantly outperforming the S&P 500.

“I would still hang around and could conceivably be useful in a few cases,” Buffett said of his retirement plans, emphasizing that Abel will be more successful than he has been in continuing Berkshire’s growth trajectory.

Abel rose from humble beginnings, starting his career in a working-class family and working odd jobs before graduating from the University of Alberta in 1984. He initially joined PricewaterhouseCoopers before eventually finding his way to CalEnergy, which later became MidAmerican Energy and was acquired by Berkshire.

Despite maintaining a relatively low public profile, Abel has earned praise from Berkshire insiders for his operational excellence. As CEO of Berkshire Hathaway Energy since 2008, he has overseen all of Berkshire’s non-insurance operations and helped position the company for future growth amid economic uncertainty.



Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

Alamos Gold Q1 Earnings: The Inside Scoop

Cerrado Gold Q4 Earnings: The Turnaround is Working

B2GOLD Q1 Earnings: Revenue Up, Production & Cash Flow Decline

Recommended

Canadian Copper: The $172M Combined Strategy PEA

ESGold Begins Concentration Tests Ahead Of First Production

Related News

A Deep Dive On Berkshire Hathaway’s Annual Letter

Warren Buffett, the Chairman and CEO of Berkshire Hathaway (NYSE: BRK.B), recently provided insight into...

Monday, February 26, 2024, 03:44:00 PM

Buffett’s Berkshire Slashes Apple Stake by Half in Major Selloff

Berkshire Hathaway (NYSE: BRK.B), led by billionaire Warren Buffett, has slashed its stake in Apple...

Monday, August 5, 2024, 12:32:00 PM

Warren Buffett’s Berkshire Hathaway Adds 6 Million More Occidental Petroleum Shares

Berkshire Hathaway (NYSE: BRK.A), a conglomerate helmed by Warren Buffett, strengthened its largest shareholder position...

Friday, September 30, 2022, 03:03:00 PM

Warren Buffet Warns of ‘Very Substantial Inflation’ Amid Rapid Recovery From Pandemic

Warren Buffet, the world’s richest investor, warns of imminent inflation hitting the US economy, amid...

Monday, May 3, 2021, 05:38:00 PM

Warren Buffett’s Berkshire Hathaway On The Way To A 20% Stake In Occidental

Berkshire Hathaway (NYSE: BRK.A), a conglomerate owned by Warren Buffett, recently disclosed that it acquired...

Wednesday, July 6, 2022, 10:59:00 AM