What are New Berkshire CEO Greg Abel's Key Priorities?

After six decades in charge, Warren Buffett stepped down from his position as Berkshire Hathaway’s CEO in 2025, endorsing Vice Chair Greg Abel as his successor.

Following Warren’s announcement of Greg as his successor in 2021, Greg has formally laid out his plans for the company in his first annual letter to shareholders as CEO.

In the letter, Greg discusses Warren’s legacy and details every aspect of his future approach to leadership, including the dependence on his employees, new investment opportunities and prioritising the company’s performance over its growth.

He began working for Berkshire in 1999 when it acquired MidAmerican Energy Holdings Company, where he served as company President. 

The company was renamed Berkshire Hathaway Energy in 2014 and four years later, Greg was appointed Vice Chair of Berkshire’s non-insurance businesses.

Warren Buffett named Greg as his successor ahead of his departure in 2021, with the intention to take a back seat as company Vice Chairman for the foreseeable future.

Warren praised Greg when discussing the succession in January 2026, saying: “I’d rather have Greg handling my money than any of the top investment advisors or any of the top CEOs in the United States,” in an interview with CNBC.

Hesitance from shareholders

Setting out his future vision in the February 2026 shareholder letter, Greg highlights the company’s legacy, and speaks transparently about its prospects.

He states that Berkshire’s future is dependent on investors understanding that, even without Warren leading the charge, the company’s success comes from the system and not solely its creator.

Greg emphasises that “Protecting [Berkshire’s] integrity and reputation is a never-ending journey”, stating that he plans to “remain relentless” in his efforts to uphold company values.

Following the publication of Greg’s letter, Berkshire shares fell 5%, indicating a market anxiety around his leadership.

However, some shareholders are praising Greg’s approach to ease concerns and highlight productive steps forward for the company.

Discussing the impact of the letter, Macrae Sykes, Portfolio Manager of the Gabelli Equity Trust, says: “Overall, [Greg] showed humility, expressed clarity in communication and confidence in his role as the new CEO. No doubt, shareholders should be convinced he has a comprehensive understanding of the Berkshire equity.”

Prospects for the future

Greg assures shareholders that his leadership will be informed by the same beliefs set out by Warren and former Vice Chairman and architect of Berkshire, Charlie Munger.

He writes that Berkshire’s operating frameworks are fundamental to the company’s success, and he has no intention of altering core philosophies like its value investment approach or its no-dividend strategy.

Greg adds: “Berkshire is a unique conglomerate, intentionally designed to allocate capital rationally and efficiently. Insurance is our core, and we also hold substantial investments in businesses across many other sectors.”

Elsewhere in the letter, he highlights the importance of growing profit sustainably and not by volume, customer loyalty and concentrating on long-term resilience, not short-lived opportunism.

He also plans to implement share repurchases to keep Berkshire flexible and avoid short-term pressures during market changes.

Greg calls Warren “a very hard act to follow,” and acknowledges that entering a new leadership role requires a complete and thorough understanding of the organisation.

Setting his vision for the company, he adds: “I am honoured by the responsibility of continuing to build our company and our partnership in the years ahead. We move forward with great intent and purpose."