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Abel, who is now vice president of non-insurance operations at Berkshire Hathaway, travels often, yet still manages to coach his kids’ hockey, baseball and soccer teams, says Jim Cownie, a former cable executive and Iowa real estate investor.
“How does a guy with that much responsibility do that? He just figures out a way,” Cownie said. “He’s an amazing human being.”
Abel will succeed the 90-year-old Buffett as CEO.
Buffett confirmed the succession plan Monday to CNBC after Berkshire Vice Chairman Charlie Munger let details of it slip during the Omaha, Nebraska-based company s annual meeting on Saturday.
In an exchange with Munger, Buffett said Berkshire s extremely decentralized operating model wouldn t work unless the company has the right culture.
Berkshire Hathaway’s CEO-in-waiting has a lot of Warren Buffett in him plus more MarketWatch 5/4/2021
LAWRENCE A. CUNNINGHAM S QUALITY INVESTING
It’s confirmed: Warren Buffett’s eventual successor as CEO of Berkshire Hathaway will be Gregory Abel, currently the company’s vice-chairman. While no one can match the unparalleled record Buffett set as both an investor and a manager, Abel is the right fit: a player and a coach who has a light-touch and makes a high-impact.
As a manager within Berkshire’s culture famous of autonomy and decentralization, Abel, 59, is aptly low-ego and hands-off. A deep business knowledge and wisdom that he gladly offers when asked, one of the most important roles of the Berkshire CEO when overseeing scores of high performing subsidiaries.