Warren Buffett has handed over Berkshire Hathaway’s reins after six decades at the helm, in one of the most consequential corporate successions of a generation.
Berkshire vice-chair Greg Abel, 63, took charge as chief executive on Thursday, leaving a low-profile protégé of one of history’s savviest investors to lead the sprawling company.
Buffett, 95, transformed Berkshire from a struggling New England textile mill into a $1.1tn financial behemoth that spans railroads, utilities and insurance operations.
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