OMAHA, Neb. (AP) — Everyone knows Warren Buffett 's successor won't be able to match the legendary investor, but Berkshire Hathaway 's board remains...
Longtime Berkshire board member Ron Olson told investors gathered Thursday at a conference two days ahead of the company'sthat Abel understands all the fundamental principles that guided Buffett, like letting Berkshire's companies largely run themselves. And Abel will be committed to running Berkshire in a conservative way that will protect the company that's known for it financial strength, he said.
In fact the legal battle gave Olson, who is a partner at Berkshire's primary law firm, the chance to work closely with Abel, giving him even more confidence in the board's chosen successor.“I could tell you that his preparation and thinking was impressive. He is strategic in his thinking. And he is decisive in his judgement,” Olson said.
Olson said Abel is a numbers guy who can dissect a business' balance sheet as quickly and well as Buffett, and he's also a great listener that people like to work with. Professor Lawrence Cunningham, who has written several books about Berkshire, said he thinks even with the profound loss of Munger the company he helped build will endure.
Olson said Berkshire's board knows there just isn't another Warren Buffett or Charlie Munger out there to replace those two men. Canadians frustrated with rising groceries prices have pledged to boycott Loblaw-owned stores for the month of May. On the same day it was set to begin, Canada's largest grocer reported a nearly 10 per cent increase in profits.CEO Per Bank says recent efforts by Loblaw teams "working closely" with a government committee had given him a "new perspective" on the code.
Berkshire Hathaway Greg Abel Ron Olson Charlie Munger
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