▲ Warren Buffett, Chairman of Berkshire Hathaway
Warren Buffett, 90, Chairman and Chief Executive Officer of Berkshire Hathaway, has finally revealed his successor.
It was the hand of vice chairman Greg Abel in the next CEO race that was compressed into a two-way match.
President Buffett told CNBC, "If something happens to me tonight, the directors have agreed that it will be Gregg who will take over management tomorrow morning."
A source familiar with Berkshire Hathaway's board of directors confirmed to the Wall Street Journal (WSJ) that if Buffett immediately retires from CEO, Vice Chairman Abel is currently selected as the replacement.
Buffett's succession structure, known as the'Sage of Omaha', has been one of the key issues that have been talked about for decades.
In 2018, Chairman Buffett selected Abel as Vice Chairman of the Non-Insurance Division and Ajit Zain as Vice Chairman of the Insurance Division, and formalized the two as the next CEO candidates.
Among them, Abel, who has been considered a more promising candidate, leads the group's railroad, utilities (water, electricity, gas), manufacturing, retail, and automobile sales.
Abel's successor appointment became a hot topic again at the Berkshire Hathaway annual shareholders' meeting held on the 1st, when Buffett's ``best friend'' and ``right arm'' vice chairman Charlie Munger accidentally exposed it.
In answering questions about Berkshire Hathaway's corporate culture, Mr. Munger said at the state meeting, "Greg will maintain that culture."
In this regard, President Buffett also said, "Greg is doing a lot better than I did before."
If vice chairman Abel takes over as CEO, what will be the relationship with his rival Jain Jain is also of interest.
At the shareholders' meeting on the 1st, they explained that it is a business relationship that respects each other and communicates well.
Meanwhile, the chairmanship of Berkshire Hathaway is expected to be inherited by Buffett's son, Howard Buffett, according to WSJ.
(Photo = Getty Image Korea)