Greg Abel: The Next CEO of Berkshire Hathaway

NexxtGen Markets
May 5
3 min read

Greg Abel: The Next CEO of Berkshire Hathaway

In a historic announcement at Berkshire Hathaway's 2025 annual meeting, Warren Buffett revealed that he would step down as CEO by the end of the year, naming Greg Abel as his successor. This marks the end of an era for the $1.2 trillion conglomerate, which Buffett transformed from a struggling textile firm into one of the world's most valuable companies over six decades.

🧒 Early Life and Education

Gregory Edward Abel was born on June 1, 1962, in Edmonton, Alberta, Canada. Raised in a hardworking family, he learned the value of diligence early on by taking up various odd jobs, including distributing flyers and returning bottles for deposits. A former hockey player, Abel's upbringing instilled in him a strong work ethic and team-oriented mindset.

Abel earned a Bachelor of Commerce in Accounting from the University of Alberta in 1984 and is a certified public accountant (CPA).

💼 Career Journey

Abel began his professional career at PricewaterhouseCoopers in San Francisco before transitioning to the energy sector. In 1992, he joined CalEnergy, a geothermal electricity producer, which later became MidAmerican Energy. When Berkshire Hathaway acquired a controlling stake in MidAmerican in 1999, Abel continued to lead the company. He became CEO in 2008, and under his leadership, the company was renamed Berkshire Hathaway Energy in 2014.

In January 2018, Abel was appointed Vice Chairman of Berkshire Hathaway, overseeing the conglomerate's non-insurance operations, including utilities, manufacturing, and retail businesses such as BNSF Railway, Dairy Queen, and Duracell.

🧠 Leadership Style and Philosophy

Abel is known for his pragmatic and team-oriented approach to leadership. Buffett has praised Abel's work ethic, stating that he works harder and more effectively than himself. Abel's background in hockey has influenced his collaborative leadership style, emphasising teamwork and shared goals.

He has expressed a commitment to maintaining Berkshire's culture and values, focusing on long-term investments and operational excellence. Abel's leadership is expected to continue Buffett's legacy while adapting to the evolving business landscape.

🔮 The Road Ahead

As Abel prepares to succeed Buffett, he faces the challenge of leading Berkshire Hathaway's vast portfolio, including its $264 billion equity holdings. While Abel has extensive experience in managing operating businesses, he has less direct involvement in the company's investment decisions. The future management of Berkshire's equity portfolio remains a topic of interest among investors and analysts.

Despite these challenges, Abel's track record and Buffett's endorsement suggest a promising future for Berkshire Hathaway under his leadership. The transition is expected to be finalised by the end of 2025, pending board approval.

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