Warren Buffett's Successor Unveiled

Greg Abel, 59, revealed as the new chief executive of Berkshire Hathaway at this weekend's shareholder meeting

Greggory Warren, CFA 4 May, 2021 | 9:15AM
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Warren Buffett

We were a little surprised to see wide-moat rated Berkshire Hathaway (BRK.A) (BRK.B)  actually announce today that Greg Abel would be Warren Buffett's successor as chief executive once he departs the scene. The surprise, though, was in the timing of the announcement (which apparently was forced by a slip-up on Charlie Munger's part during the annual meeting this past weekend) as opposed to the announcement itself, both of which have had a positive impact on the stock, as it removes one of the major uncertainties hanging over the company.

We have long believed that Abel was the most likely successor to Buffett, given his age (59) – which satisfies Buffett's criterion that the company's next "CEO should be relatively young, so that he or she can have a long run in the job" – and his combination of both operational and capital allocation experience during his years at Berkshire Hathaway Energy.

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Greggory Warren, CFA  Greggory Warren, CFA, is a senior stock analyst with Morningstar.

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