Warren Buffett’s latest moves: leadership shifts and bold investments
Greg Abel is confirmed as Buffett’s successor, with a focus on long-term investments and taxes
Warren Buffett released his annual letter a few weeks ago, or as he puts it in the opening paragraph of his most recent letter to Berkshire Hathaway shareholders, he sees it more as a report to the company’s shareholders than a letter. There are some interesting themes tucked away in this year’s edition.
First, Greg Abel is Buffett’s heir and future CEO. While a few names have been bandied about over the years, including insurance business head Ajit Jain, Geico CEO Todd Combs and head of equity investments Ted Weschler, it is clear that Abel will take over the mantle. Buffett writes in the latest letter: “At 94, it won’t be long before Greg Abel replaces me as CEO and will be writing the annual letters.” Abel has been joining Buffett on stage for the Q&A segment at the annual meeting in recent years. In recent media interviews Buffett has also publicly espoused his desire for Abel to take over. This succession plan is reiterated in the annual letter...
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