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Warren Buffett’s successor Greg Abel publishes his first letter to Berkshire Hathaway shareholders
Warren Buffett’s successor released his first letter to Berkshire Hathaway shareholders on Saturday as the company took a $4.5 billion write-down on the value of its Kraft Heinz and Occidental Petroleum stakes. Greg Abel took over as CEO in January, so this is his chance to set the tone for his leadership. Investors are watching closely for any changes he might make, but Abel and Buffett have said there won’t be significant changes in the way Berkshire operates. The letter opens with a tribute to Buffett and a promise to maintain Berkshire’s culture that’s based on trust and integrity and continue operating ... (full story)
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