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Warren Buffett names his successor

May 3, 2021. Summarized by summa-bot.

Compression ratio: 45.4%. 1 min read.

Warren Buffett said Monday that Greg Abel, the head of Berkshire Hathaway's non-insurance business, will be his successor -- although Buffett gave no indication that he will give up the top job at the conglomerate anytime soon.

New York (CNN Business)Warren Buffett said Monday that Greg Abel, the head of Berkshire Hathaway's non-insurance business, will be his successor -- although Buffett gave no indication that he will give up the top job at the conglomerate anytime soon.

Abel has long been considered one of the two men likely to follow Buffett, along with Ajit Jain, who heads Berkshire's insurance business.

Speaking to CNBC Monday morning, the 90-year old Buffett said that Abel is the next in line to follow him, followed by Jain.

"The directors are in agreement that if something were to happen to me tonight it would be Greg who'd take over tomorrow morning," Buffett said.

One advantage that Abel may have had on Jain is that, at age 59, he is 10 years younger than his rival.

by summa-bot

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