--- title: "Paving the way for Abel's succession: Berkshire adjusts its corporate bylaws to separate the roles of Chairman of the Board and CEO" type: "News" locale: "zh-HK" url: "https://longbridge.com/zh-HK/news/259967447.md" description: "Berkshire Hathaway announced the separation of the roles of Chairman of the Board and Chief Executive Officer, amending the company's bylaws to support Vice Chairman Greg Abel's succession as CEO in 2026. This move was disclosed in an SEC filing on October 3, and the board voted in favor on September 30. Warren Buffett will continue to serve as Chairman of the Board and stated that he will gradually gift his shares, believing that Abel's management will lead to a better outlook for the company" datetime: "2025-10-05T01:10:46.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/259967447.md) - [en](https://longbridge.com/en/news/259967447.md) - [zh-HK](https://longbridge.com/zh-HK/news/259967447.md) --- > 支持的語言: [简体中文](https://longbridge.com/zh-CN/news/259967447.md) | [English](https://longbridge.com/en/news/259967447.md) # Paving the way for Abel's succession: Berkshire adjusts its corporate bylaws to separate the roles of Chairman of the Board and CEO Berkshire Hathaway announced that it has separated the roles of Chairman of the Board and Chief Executive Officer (CEO). On October 3rd local time, Berkshire Hathaway announced in an 8-K filing submitted to the U.S. Securities and Exchange Commission (SEC) that the company's board of directors voted on September 30th to amend the company's bylaws, which took effect immediately, to separate the roles of Chairman of the Board and CEO. Media analysis suggests that this move paves the way for the company's current Vice Chairman Greg Abel to succeed the 95-year-old "Oracle of Omaha" Warren Buffett as CEO in early 2026. On May 5th local time, Berkshire issued a press release stating that the board voted on May 4th to appoint Abel as CEO effective January 1, 2026, while Buffett will continue to serve as Chairman of the Board. In light of the upcoming transition, where the roles of Chairman of the Board and CEO will no longer be held by the same person, the Berkshire board decided to add Section 3.5 to Chapter 3 "Board of Directors" of the company bylaws and make corresponding amendments to Chapter 4 "Corporate Executives and Agents." In 1965, Buffett acquired Berkshire at an average price of $14 per share, and he has since held both key positions of Chairman of the Board and CEO. Near the end of the Berkshire 2025 Annual Shareholders' Meeting held on May 3rd, Buffett unexpectedly announced that he would recommend Abel to the Berkshire board for the CEO position at the end of the year, stating that he believes the time is right for Abel to take on the role. Buffett stated that after stepping down, he will remain with Berkshire and provide assistance, but the "final decision-making power" will be in Abel's hands. "I absolutely do not intend to sell any shares of Berkshire; I will gradually donate them," Buffett further stated, expressing his intention not to sell any Berkshire stock but to gradually donate his holdings. "I want to add that the decision to retain all shares is a very economic decision because I believe that under Abel's management, Berkshire's prospects will be better than when I was managing it." "Perhaps one day we will have the opportunity to invest a large amount of money. By then, I think it might be helpful for the board to know that I have invested all my money in the company, which I think is wise, and I have already seen Abel's achievements," Buffett said. The incoming Abel is currently the Vice Chairman of Berkshire, responsible for the company's non-insurance businesses. At the shareholders' meeting, Abel stated that Berkshire's values and management team are defined and led by Buffett, laying a solid foundation for the company's future, and that any asset allocation will prioritize Berkshire's reputation Abel also pointed out that the company's substantial cash position is a strategic asset he can deploy in the future, allowing Berkshire to succeed without relying on any banks or other entities. Abel further stated that before investing in a company, it is essential to understand what the company's vision looks like; without such a vision, no investment will be made. Berkshire not only needs to fully understand the vision of a company but also to comprehend where the bottom-line risks of business development lie, which is the philosophy of investment. For the past sixty years, Berkshire has operated under this philosophy, and it will not change in the future. Abel was born in 1962 and is currently 63 years old. He grew up in Edmonton, Canada, and graduated with a Bachelor of Commerce degree from the University of Alberta in 1984. He previously worked at the PwC branch in Edmonton before moving to the San Francisco office. Most of Abel's significant achievements have been in the utilities sector. A review of Abel's resume shows that he excels in mergers and acquisitions in the infrastructure and energy sectors. During his 20 years leading Berkshire Hathaway Energy, he developed it into one of the largest electricity producers in the United States and is now responsible for the daily operations of Berkshire's non-insurance businesses. On October 2nd local time, Berkshire and Occidental Petroleum both announced on their official websites that the two companies have reached a final agreement, with Berkshire acquiring Occidental's chemical business OxyChem for $9.7 billion in an all-cash transaction. Occidental Petroleum stated that it expects to use $6.5 billion of the proceeds from the transaction to reduce debt, aiming to keep its principal debt below $15 billion after the acquisition of CrownRock set for December 2023. "Berkshire is acquiring a set of robust operating assets supported by an excellent team. We look forward to welcoming OxyChem as an operating subsidiary of Berkshire," Abel said. "We commend Vicky and the Occidental team for their commitment to Occidental's long-term financial stability, as evidenced by their plans to strengthen the company's balance sheet with the proceeds from the transaction." ### 相關股票 - [Berkshire Hathaway B (BRK.B.US)](https://longbridge.com/zh-HK/quote/BRK.B.US.md) - [Berkshire Hathaway (BRK.A.US)](https://longbridge.com/zh-HK/quote/BRK.A.US.md) - [XL2CSOPBRKB (07777.HK)](https://longbridge.com/zh-HK/quote/07777.HK.md) ## 相關資訊與研究 - [Warren Buffett teams up with NBA superstar Stephen Curry for charity lunch, reviving iconic auction](https://longbridge.com/zh-HK/news/281182480.md) - [Warren Buffett says avoiding risk could be your biggest mistake—here’s why](https://longbridge.com/zh-HK/news/281360706.md) - [Warren Buffett Is Retired, But Still Going To The Office Daily](https://longbridge.com/zh-HK/news/281264271.md) - [Warren Buffett Bet Big On Oil In Q4: Here's How Much Berkshire Hathaway Is Up On Chevron Stock In 2026](https://longbridge.com/zh-HK/news/281213097.md) - [Berkshire Lines Up Yen Bond Sale as Japan Rate Hike Bets Hit 70%](https://longbridge.com/zh-HK/news/281559723.md)