Greg Abel Leads First Berkshire Annual Meeting as New CEO

Historic Leadership Transition at Berkshire Hathaway

Berkshire Hathaway hosted its 2026 annual meeting — its first since Warren Buffett passed the baton as CEO to Greg Abel at the start of the year , marking a pivotal moment for one of America's most influential investment conglomerates. Abel was joined on stage by members of his leadership team, but chairman Warren Buffett made remarks from the audience. Abel celebrated his predecessor by hanging a jersey from the rafters of the CHI Health Center, where the event is held each year .

The 63-year-old Abel faced the challenge of following "the greatest investor who ever lived" at Saturday's gathering in Omaha, Nebraska. Since Buffett, who's 95, announced last year he would step down, Berkshire's shares have lagged the S&P 500 by nearly 40 percentage points . The meeting drew a notably smaller crowd than previous years, with several thousand seats empty in an arena that was once packed for Buffett and Charlie Munger's exchanges .

"Greg is doing everything I did and then some," Buffett said, so his decision to step down has worked out great so far . The Oracle of Omaha took the microphone briefly to praise his successor and recognize Apple CEO Tim Cook, who attended the meeting. Buffett said Abel has done a tremendous job so far, and Cook helped Berkshire's initial $35 billion investment in Apple grow to be worth $185 billion today .

Abel's Vision for AI and Technology

One of the most significant topics Abel addressed was artificial intelligence and its role in Berkshire's future. Abel said the Omaha-based firm was thinking critically about how to use AI to add value, saying that Berkshire wasn't "going to do AI for the sake of AI" . Abel said Berkshire will deploy AI in a form that is narrow in scope and focused on creating value propositions. He said there's risks for "humanity" tied to the technology that the conglomerate is keeping in mind .

The new CEO also addressed cybersecurity concerns in the age of AI. Abel said the deepfake of Buffett underscores the artificial intelligence-driven cybersecurity risk that Berkshire is facing. "It's a great reminder for our team," Abel said. "That is a significant risk across Berkshire that we're managing every day" . Abel said Berkshire aims to use technology to identify cyber threats, specifically within its insurance business .

Managing Record Cash and Maintaining Culture

In his first annual meeting as Berkshire Hathaway's CEO, Greg Abel assured the shareholders that he will invest wisely and manage the $1.02 trillion conglomerate's cash stake without the burdens of bureaucracy . Responding to a pre-recorded question from Buffett, he said Berkshire would not be weighed down by bureaucracy. "As a conglomerate, we live by the fact that we hate bureaucracy," Greg Abel said .

The leadership transition appears to be preserving Berkshire's decentralized culture. The CEOs of Dairy Queen, See's Candy, Jazwares and Brooks Running all said very little has changed since Abel was promoted other than they now report to NetJets CEO Adam Johnson who is overseeing 32 retail and service businesses. "I think this is a very deeply rooted culture that Warren has created, and I believe the transition to Greg is going to be rooted in those values that Warren has for 60 years instituted and will continue," Brooks CEO Dan Sheridan said .

Looking Forward Under New Leadership

Abel is known to be a more demanding and hands-on boss than Buffett ever was, but he does that by challenging Berkshire's CEOs to strengthen their competitive advantages while taking care of their customers. Abel asks tough questions and offers advice that his CEOs appreciate, but he doesn't tell them exactly what to do . And with Buffett remaining Berkshire's chairman and its largest shareholder it's unlikely that Abel will make any drastic changes. So shareholders shouldn't expect Berkshire to start paying a dividend or that Abel will suddenly split the company up. Instead, Abel will continue building on the foundation Buffett established over 60 years .

The meeting represented both continuity and change for the investment giant. While Abel brings his own leadership style to the role, he clearly intends to honor Buffett's legacy while positioning Berkshire for future challenges. His measured approach to AI adoption and commitment to avoiding bureaucracy suggest that shareholders can expect thoughtful evolution rather than revolutionary change under his stewardship.