Berkshire Hathaway board feels sure Greg Abel is the man to eventually replace Warren Buffett
Everyone knows Warren Buffett’s successor won’t be able to match the legendary investor
OMAHA, Neb. — 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.
Longtime Berkshire board member Ron Olson told investors gathered Thursday at a conference two days ahead of the company's annual shareholders meeting that Abel understands all the fundamental principles that guided Buffett, like letting Berkshire's companies largely run themselves. And Abel will be committed to running Berkshire in a conservative way that will protect the company that's known for it financial strength, he said.
“Greg is not somebody who is going to be as likely to create the kind of following in the press that I think Warren has had,” Olson said. “On the other hand. I have every reason to believe that he will run the companies that we have the responsibility for in the same way that Warren ran them.”
Olson said he's confident business owners will still be willing to sell their companies to Berkshire once the Canadian utility executive takes over after the 93-year-old Buffett is gone.
Olson said he doesn't think last year's public legal fight with the billionaire Haslam family over how much Berkshire would ultimately pay for the last 20% of the Pilot truck stop chain the family agreed to sell to Buffett will be a deterrent to future deals either. Both the Haslams and Berkshire accused each other of trying to manipulate Pilot's earnings to affect the final $2.6 billion price.
Business owners considering selling can see all the positive and respectful relationships Berkshire has with its
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