Greg Abel New Contender Warren Buffett — Berkshire replacement? Greg Abel could be new contender for Warren Buffett for succession plan. The name is a subject of obsessive speculation in the financial world.
Buffett’s succession plan still hasn’t been revealed. However, Abel, CEO of MidAmerican Energy, is one of four possible people mentioned. The latest shortlist comes courtesy of Vanity Fair, which homed in on four CEOs of Berkshire Hathaway companies.
The other names include: Ajit Jain, who heads Berkshire’s reinsurance business; David Sokol of NetJets; and Matthew Rose of Burlington Northern. Longtime Buffett watchers will recognize all of those names as successor candidates — except one. Abel, described as “Sokol’s number two,” is a new addition to the field.
Abel, 48, declined through a spokesperson to comment and keeps a low profile. Schooled in Canada, where he became a chartered accountant, Abel is based in Des Moines today. There he oversees MidAmerican — a group of utilities, natural-gas pipelines, and a real estate brokerage with combined revenues of $11.2 billion last year.