Billionaire businessman Warren Buffett announced that he would step down as the CEO of the multinational conglomerate Berkshire Hathaway at the end of this year. Buffett said that Greg Abel, Vice Chair of Non-Insurance Operations and Chair of Energy at the company, will take over by the end of the year. Buffett has run the company since 1965, and has long become synonymous with the brand, besides being an American business icon himself.
This announcement was made during Berkshire Hathaway’s annual meeting in early May 2025, marking a significant leadership transition for the conglomerate.
Who is Greg Abel?
Born in 1962 in Edmonton, Alberta, Canada, Greg Abel is a seasoned business leader with a strong background in energy and operations. He joined Berkshire Hathaway through its energy division and has been instrumental in overseeing the company's diverse non-insurance businesses. In 2018, Abel was appointed Vice Chairman of Non-Insurance Operations, a role that positioned him as a key figure in Berkshire Hathaway's leadership structure.
Abel is known for his strategic thinking, decisiveness, and ability to manage complex business operations. He has earned respect from colleagues and industry experts alike for his leadership qualities and deep understanding of Berkshire Hathaway's diverse portfolio.
As he takes the reins, Abel is tasked with maintaining the company’s legacy while navigating future opportunities and challenges, particularly in sustainability and innovation.
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