All the highlights from Berkshire CEO Abel's first shareholder letter
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After two months on the job, new Berkshire Hathaway CEO Greg Abel emphasizes he won't be making major changes to the way the company has operated for decades under Warren Buffett's leadership.
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In this article BRK.B BRK.A Follow your favorite stocks CREATE FREE ACCOUNT (This is the Warren Buffett Watch newsletter, news and analysis on all things Warren Buffett and Berkshire Hathaway. You can sign up here to receive it every Friday evening in your inbox.) Abel: Berkshire's culture and values 'remain unchanged and will continue into perpetuity' In his first letter to Berkshire Hathaway shareholders , new CEO Greg Abel didn't try to emulate Warren Buffett's folksy, conversational writing style. He did, however, emphasize he won't be making major changes to the way the company has operated for decades under Buffett's leadership. At the top of his letter, Abel called Buffett "arguably the greatest investor of all time," and acknowledged that "Warren is obviously a very hard act to follow." Berkshire Vice Chairman Greg Abel speaks with shareholders during the Berkshire Hathaway Inc. annual shareholders' meeting, in Omaha, Nebraska, U.S., May 2, 2025. Brendan McDermid | Reuters Abel wrote that last month, he "sent a letter to our employees to emphasize that Berkshire's cultures and values remain unchanged and will continue into perpetuity." "We are committed to strengthening the great legacy" built by Buffett and Charlie Munger, "ensuring it endures through our commitment to excellence." Abel said Munger's comment at the 2021 annual meeting that " Greg will keep the culture " will "forever resonate with me" as a "reminder that our culture is our most treasured asset, a call to maintain what defines Berkshire, and a challenge to ensure our culture continues." No change on buybacks or dividends Any investors hoping Abel would be more specific about criteria for buybacks didn't get satisfaction. His sentence on the subject could have been written by Buffett himself: "We will buy back Berkshire shares when they trade below our estimate of intrinsic value, conservatively determined, ensuring that repurchases enhance per-share value for continuing owners." There were n...
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