Warren Buffet suggests Greg Abel as the next CEO
Business tycoon and chairman and CEO of Berkshire Hathaway, Warren Buffet, 90, finally revealed Greg Abel to succeed the company after him.
Berkshire Hathaway Inc. is an American multinational conglomerate company owning. businesses in insurance, rail transportation, energy generation, and distribution, manufacturing, and retailing. This wasn’t an overnight success, Buffet had transformed a failed textile business into a $628 billion company with several industrial giants.
Gregory Edward Abel, 59 is a Canadian businessman and one of the chairmen of Berkshire Hathaway Energy, and vice-chairman of non-insurance operations of Berkshire Hathaway since January 2018 who transformed the conglomerate’s energy unit into a massive power provider across the United States.
Buffett also told CNBC that if anything happened to Abel, the CEO job would go to Vice Chairman Ajit Jain. An alumnus of IIT (Indian Institute of Technology), Kharagpur, and Harvard University. He is the Vice-Chairman of Insurance Operations for Berkshire Hathaway as of January 10, 2018.
The Middle child of the billionaire investor, Howard Buffet, is expected to become non-executive chairman.
Buffet holds extreme trust in Abel’s long-term thinking abilities and knack for business by saying in a video message in 2013, “He’s a first-class human being. There are a lot of smart people that do dumb things. He’s a smart guy who will never do a dumb thing.”