Canadian-born Greg Abel, 62, is set to become Berkshire Hathaway’s new CEO by the end of 2025. He’ll be replacing the iconic Warren Buffett in this key post. Abel has long been one of Buffett’s top lieutenants, and his appointment signals a continuation of the company’s legacy of strong leadership. He’s the chairman of its wholly-owned subsidiary Berkshire Hathaway Energy, which in turn owns valuable companies such as BNSF railroad, See’s Candies and Dairy Queen.
Abel was born and raised in Edmonton, Alberta, Canada. His story to get there has been filled with grit and perseverance. He learned a powerful work ethic from an early age. He made a living scavenging throwaway bottles and punching clocks for a family operation that stocked fire extinguishers. This simple upbringing, he says, was the foundation for values he carries to this day that echo Warren Buffett’s own principles of grit and moral compass.
Since becoming a part of Berkshire Hathaway in 2000, Abel has proved his in-depth knowledge of the many different businesses. That experience is put on full display during his Berkshire meetings—he often speaks highly of both our utility interests and the railroad industry. Buffett and the rest of the Berkshire board have lauded Abel for his brilliance. They respect his prowess to get inside the head of a wide array of industries.
Abel’s leadership role doesn’t stop there – he’s focused on family. He lives in Des Moines, Iowa, about two hours from Buffett’s home turf of Omaha. Now back in Des Moines, he is a very active hockey and soccer coach for his children’s teams. This is a testament to his deep conviction about the need for family-centered principles.
Berkshire Hathaway has developed a well-deserved reputation for their decentralized structure that encourages entrepreneurial independence within the dozens of subsidiaries. One of Abel’s most important jobs as CEO will be to maintain this unusual culture, based on trust and integrity. He is likely to continue residing in Iowa. This dovetails with the company’s deeply decentralized culture, which allows leaders to run their fiefdoms without interference from the central Omaha headquarters.
Abel was awarded the Horatio Alger Association Distinguished American Award in 2018, signaling his accomplishments, contributions, and achievements. This recognition further highlights his relentless work ethic and drive for excellence, values he lives by every day. He’s always believed that hard work pays off, a lesson he said he learned from his formative years and in his education and career through divine intervention.
“I think hard work leads to good outcomes. In my schooling, in sports, and in my business positions, I learned that if I put in a lot of work and was well-prepared, then success would be more likely,” – Greg Abel
As Abel prepares to step in as CEO, industry watchers are eager to see how he will guide Berkshire Hathaway in the years ahead. His operational focus is evident in each decision he’s made. That same fearless devotion to the company’s sacred ideals will make him the ideal successor to Buffett.
Ron Olson, a long-time board member, remarked on Abel’s potential: “Is he another Warren Buffett? No, there is no other Warren Buffett that I know. He has so many of the fundamentals of Warren.”
As the transition approaches, stakeholders within Berkshire Hathaway express confidence in Abel’s ability to maintain the company’s trajectory while honoring its foundational principles. With Abel’s strong track record and deep understanding of the business landscape, he’s going to have to soon, because he’s set to turn over control of Berkshire Hathaway’s future.
