Warren Buffett has announced he will retire at the end of this year, closing the curtain on one of the most legendary runs in corporate history. His chosen successor? Greg Abel—a name few outside Omaha or the investing elite may recognize, but someone who has quietly been running a sizable chunk of Berkshire Hathaway’s operations for years.
Abel, 62, is no Wall Street celebrity or clout-chasing CEO. He’s a former accountant from Edmonton, Canada, who rose through Berkshire’s energy arm to oversee its vast portfolio of non-insurance businesses, from railroads and utilities to manufacturing. These units now generate the lion’s share of Berkshire’s revenue. As Fortune’s Shawn Tully recently noted, the businesses under Abel’s watch bring in about $270 billion annually—enough to rank in the Fortune 500’s top 10, ahead of Microsoft and Chevron. Berkshire itself ranks fifth.
