Warren Buffett hands over Berkshire Hathaway’s reins to Greg Abel
Financial Times••business
Key Points:
- Warren Buffett has stepped down as CEO of Berkshire Hathaway after six decades, with vice-chair Greg Abel, 63, taking over the leadership of the $1.1 trillion conglomerate.
- Abel, a longtime Berkshire executive known for his low profile, has pledged to maintain Buffett’s value investing philosophy, focusing on businesses with strong cash flows and a long-term horizon.
- Investors are closely watching how Abel will manage Berkshire’s vast portfolio, including $350 billion in cash and short-term Treasuries and $283 billion in publicly traded stock, as well as his approach to capital allocation and potential big-ticket deals.
- Abel has started to make organizational changes, including appointing a new CFO and the company’s first general counsel, and
