Warren Buffet names Canadian as successor to head Berkshire Hathaway

By: Thomas I. Likness
ECB News Service

(Eagle News) — An Edmonton-born accountant will succeed Warren Buffett as CEO of Berkshire Hathaway, the company said on the weekend.

Greg Abel will take over from Buffet when the Oracle of Omaha decides it’s time to vacate the corner office.

Buffet has not set a timeline for when he might step down.

Abel is currently vice-chairman of Berkshire Hathaway.

The 59-year-old Abel was born and raised in Edmonton, Alberta. He received his accounting degree from the University of Alberta in 1984.

He began his career with PriceWaterhouseCoopers in the company’s San Francisco Branch.

Later, Abel worked for CalEnergy, which through a series of transactions, became part of the Berkshire Hathaway empire.

Abel currently is based in Des Moines, Iowa.

Buffet, who is 90, confirmed with CNBC that Abel would take over if anything happened to him.

Berkshire Hathaway was a textile mill in Nebraska that Buffett bought shares in back in 1962.

The company evolved into a holding company with investments valued at nearly $900 billion (US).
(Eagle News Service)

(FILES) In this file photo Warren Buffett, CEO of Berkshire Hathaway attends the annual Berkshire shareholders meeting in Omaha, Nebraska, May 3, 2019.
Johannes EISELE / AFP