Everyone knows Warren Buffett’s successor won’t be able to match the legendary investor. But Berkshire Hathaway’s board remains confident Greg Abel is the right guy to one day lead the conglomerate into the future.
FILE - Berkshire Hathaway Chairman and CEO Warren Buffett speaks during an interview with Liz Claman on Fox Business Network’s “Countdown to the Closing Bell,” May 7, 2018, in Omaha, Neb. Everyone knows Buffett’s successor won’t be able to match the legendary investor, but Berkshire Hathaway’s board remains confident that Greg Abel is the right guy to one day lead the conglomerate into the future.
In fact the legal battle gave Olson, who is a partner at Berkshire’s primary law firm, the chance to work closely with Abel, giving him even more confidence in the board’s chosen successor. Abel, who keeps a low profile and doesn’t typically grant interviews, will be answering questions alongside Buffett for hours Saturday, trying to help fill the role Buffett’sheld for decades before he died last fall. Abel has been overseeing all of Berkshire’s varied non-insurance businesses for several years while another vice chairman, Ajit Jain, oversees the insurance businesses, including Geico and General Reinsurance.
So Munger’s absence will be felt acutely on Saturday by all the thousands of people attending the meeting. There simply is no way to replace the expertise, advice and friendship Munger offered to Buffett for more than six decades. Berkshire has been grappling with succession questions for decades, but Cunningham said he thinks Buffett and Munger built an organization bigger than themselves that will endure.
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