Warren Buffett is preparing to ask the board of directors at Berkshire Hathaway to name Greg Abel as the new CEO. The transition is planned to take place by the end of the year. This decision marks a major change for the company, which Buffett has successfully managed for many years.
Greg Abel currently serves as Vice Chairman of Berkshire Hathaway, overseeing all of the company's non-insurance operations. He has been widely considered the frontrunner to succeed Buffett for quite some time. Buffett's forthcoming request to the board is viewed as a formality, solidifying Abel's position as the future leader.
The move reflects Buffett's ongoing efforts to ensure a smooth and stable transition of leadership at Berkshire Hathaway. Investors and analysts will be closely watching how Abel steers the company in the years to come.
Buffett Expected to Name Abel as Berkshire Hathaway CEO
Warren Buffett is anticipated to ask Berkshire Hathaway's board of directors to appoint Greg Abel as the company's next Chief Executive Officer by the end of the year. This move signals a significant transition for the conglomerate, which Buffett has led for decades. Abel, currently Vice Chairman, has long been seen as the likely successor. The formal request to the board is expected soon.
Source: Read the original article at NBC