Warren Buffett’s successor Greg Abel seen preserving Berkshire’s culture

Written by Koh Goy Cheng and Jonathan Stempble

Omaha, Nebraska (Reuters) -When Greg Abel Warren Buffett is behind the head of Perkshire Hathaway at the end of this year, he is expected to maintain culture in the giant even if he does not match the strength of his legendary president.

It is expected that the 62 -year -old investors and analysts, who is now the Vice Chairman of Berkshire, will support the tracking tracking record of the $ 1.18 trillion conglomerate clumps, and avoid profit payments for shareholders.

Berkshire, who has railways, insurance companies and ice cream maker, plans for decades eventually when Buffett, 94, has been running the company since 1965, there.

However, it was a surprise when Pavite announced on Saturday that ABEL should replace him as an executive president. Oracle of omaha did not indicate a clear intention when set aside.

Puffett has long referred to his advanced age, and before announcing his planned departure at the Berkshire annual shareholders meeting in Omaha, Abel pointed to the job more than it was.

“He works better with Greg Abel more than me, because I do not want to work hard as it works,” said Buffett.

One of the drivers, Abel, asked what his administrative approach to subsidiary companies. “More active”, he answered.

Abel also praised Buffett, saying: “It is clear that Warren was a great teacher, and I have benefited from this for years.”

Man details

Gregory Edward Abel was born in Edmonton, Alberta, on June 1, 1962, to a working class family.

By doing strange jobs, he cleaned neglected bottles and fills the fire extinguishers, according to the Horatio Alger Association for Distinguished Americans, a non -profit educational institution honored ABEL in 2018.

“It was a real family of the working class, as people sometimes had jobs and sometimes they did not do,” Abel said of his childhood in a video posted on Horatio Alger on the web. “I realized that we are all working hard to try our family.”

ABEL graduated in 1984 from the University of Alberta and worked in Pricewaterosecoopers and Calenergy Power Company.

Join Berkshire Hathaway Energy, then known as Midameric Energy, in 1992, who later took Berkshire, and became Midamerican President in 2008.

ABEL is now supervising the insurance operations in BNSF and Berkshire Hathaway Energy and dozens of chemical, industrial and retail processes.

Last year, he also assumed some of the capitalization of the capital that was Buffett.

Buffett said last year that he also wanted Abel to have a final opinion on the decisions related to the Berkshire Portfolio of Public shares, a job that he previously believed would be left to others.

Many executives who work with ABEL are called a realized liquid that is closely examined by financial standards and wants to understand companies closely and how they are operated.

The ABEL questions “make sure that you are considering guidance and plans as a company.” “I got more intelligent than a conversation with him.”

(Koh Gui Qing reports in Omaha; additional reports by Stempble and Carolina Mandel; edited by Megan Davis and Andrea Richie)