Berkshire Hathaway (BRK-B) transforms leadership as Abel assumes the responsibility of CEO

Berkshire Hathaway (BRK-B, Financials) has officially begun transitioning leadership to Greg Abel, and board members have confirmed that he has worked with CEO-level pundits before Warren Buffett (Tradees, Portfolio) retires.

Revenue and equity data are not directly discussed, but Berkshire sold $134 billion in stock at the end of 2024 for $334.2 billion in cash. The main component of this portfolio shift is a 67% reduction in its Apple (AAPL, Financials) stake. The iPhone maker is largely dependent on Chinese manufacturing, always down nearly 16%.

Berkshire’s chief director Sue Decker told CNBC that the board believes Abel is not the CEO who is waiting to be greeted, but the leader who is already in action. Currently, Berkshire Hathaway Energy CEO Abel is involved in major capital allocation decisions and holds the trust of Buffett and the board of directors.

Abel’s role improvement comes ahead of Berkshire’s three-day shareholder meeting, and Buffett is expected to lead the Q&A. Market participants expect President Donald Trump to comment on the new 145% tariff announced by China on April 2.

Buffett previously criticized the tariffs in an interview with CBS in March, saying that the Tooth Fairy does not pay. Investors such as Steve check capital management have called for stronger criticism, especially given Berkshire’s wide exposure of the U.S. economy.

Buffett’s silence will act cautiously due to market volatility and investor anxiety. His actions to sell stocks and build a fixed cash Berkshire is bringing economic headwinds.

• See Buffett’s complete trading history.

• Explore Peter Lynch’s valuation on Apple.

This article first appears on Gurufocus.