Imagining Berkshire Hathaway after Buffett: Who will be CEO, what else will change “” and what won’t

Imagining Berkshire Hathaway after Buffett: Who will be CEO, what else will change “” and what won’t

The passage of time guarantees that Berkshire Hathaway will one day be without the man synonymous with creating one of the world's most valuable and admired businesses.

While ground-level management of Berkshire Hathaway's BRK.A BRK.B decentralized individual business units will continue unchanged, filling Warren Buffett's shoes will require some changes.

The most important role to fill will be CEO, one of three jobs now held by Buffett (he is also chairman and chief investment officer). While the actual name remains a secret, the background and skillset of Greg Abel suggests the board will choose him.

The primary reason is Abel's extensive experience with capital allocation. During his time running Berkshire Hathaway Energy, and later as vice chairman overseeing non-insurance operations, Abel oversaw many acquisitions. He is also much more comfortable in the spotlight and about 10 years younger than Ajit Jain, the vice chairman in charge of insurance operations, which would give him a longer run at the helm. Jain, by contrast, is a brilliant handicapper more comfortable evaluating insurance risks (though he is also one of the best executives in the world, having overseen acquisitions of his own).

The role of chairman will likely fall to Buffett's son, Howard, whose primary duty