- Today, Abel serves as BHE’s CEO and chairman, overseeing Berkshire’s various energy holdings, which include subsidiaries focused on coal, natural gas, hydroelectric, wind, solar, geothermal, and nuclear energy. BHE has more than 23,800 employees in total, and the company reported more than $20.9 billion in revenue in 2020.
May 03, 2021 · Today, Abel serves as BHE's CEO and chairman, overseeing Berkshire's various energy holdings, which include subsidiaries focused on coal, natural gas, hydroelectric, wind, solar, geothermal, and ...
- Tom Huddleston
- 5 min
- Background and Résumé
- The Succession of The Oracle of Omaha
- Thoughts from The Street
Abel began his career working for PricewaterhouseCoopers before joining CalEnergy, a geothermal-electricity producer, in 1992. In 1999, CalEnergy acquired MidAmerican Energy and adopted its name before Berkshire Hathaway picked up a controlling interest in the firm later that year. In 2008, Abel became the CEO of MidAmerican, which was renamed Berkshire Hathaway Energy in 2014. The Canadian-born certified public accountant was the CEO of Berkshire Hathaway Energy from 2008 to 2018 and the president from 1998 to 2018. Abel currently serves as Berkshire Hathaway Energy's chairman and has served on the board of directors since 2000. In January 2018, Abel was named vice chairman of non-insurance operations for all of Berkshire Hathaway and appointed to the conglomerate's board of directors. Abel also serves as a director and vice chairman of Associated Electric & Gas Insurance Services Limited and is on the board of directors for the Kraft Heinz Company and AEGIS Insurance Services. Rea...
Abel has for years been known on Wall Street as the likely successor to Buffett. In 2017, Sarah DeWitt, an analyst with JPMorgan, initiated coverage of Berkshire and said the energy executive was the "most likely" candidate to replace Buffett. The conglomerate, however, didn't confirm the suspicion - until Saturday. At Berkshire's annual meeting, Abel was named the successor to Buffett. Munger, Berkshire's vice chairman, said he believed that Abel would "keep the culture" that has made Berkshire so successful for decades, CNBC reported. During his reign, Buffett has turned Berkshire Hathaway into a more than $630 billion business. The conglomerate owns a share of everything from Apple and Coca-Cola to Bank of America and UPS. Buffett has been an ardent supporter of the American economy - and the stocks that track it - since he began investing in 1942. Based on what Buffett and Munger have said about Abel, investors can expect much of the same from the longtime Berkshire loyalist whe...
Analysts, market commentators, and professors were mostly positive about Abel's prospects as the leader of Berkshire Hathaway. Here are four reactions to the news of his selection: 1. "Abel, of course, does not have the charisma, personality, and reputation that Buffett built over decades, so he's not going to have that magnetism that Buffett has, but he exudes extreme competence and success. He has a very successful track record at Berkshire, and I don't think shareholders can ask for anything more than that," David Kass, a professor of finance at the University of Maryland's Robert H. Smith School of Business, told Bloomberg. 2. "Greg is a natural successor to Warren Buffet and has been groomed for this post. Culturally it's a smart pick and one that should sit well for investors. That said, filling the shoes of a global icon and investing genius is a tough task and will have its share of challenges ahead. It's like filling in for Mantle or Gehrig in the Yankees lineup after they...
May 03, 2021 · Abel has long been suspected as the next in line to lead the $630 billion conglomerate. Abel is the vice chairman for non-insurance businesses at Berkshire.
- Will Daniel
May 05, 2021 · His full name is Gregory Edward Abel and he was born on June 1, 1962. 2. Abel has been with Berkshire Hathaway for over twenty years, supervising the organization’s energy holdings as the CEO of Berkshire Hathaway Energy. 3.
May 03, 2021 · Greg Abel is the heir apparent to Warren Buffett at Berkshire Hathaway. Abel, 58, is vice chairman of Non-Insurance Business Operations.
May 04, 2021 · "Greg Abel could do anything he set his mind to do," Cownie said. "He's a brilliant guy. I've never met someone who can digest information as rapidly and as completely as" Abel.