"Warren Buffett's Berkshire Hathaway announced its biggest management shake-up in decades on Monday, including a surprise exit, a retirement, and a new position. Close followers welcomed the moves, but two warned they could mark the start of a wider exodus as the legendary investor enters his final weeks as CEO after six decades in charge. Greg Abel, the head of Berkshire's non-insurance operations, is poised to take the reins from Buffett on January 1."
"Carolyn Dewar, a senior partner at McKinsey and coauthor of "A CEO for All Seasons," told Business Insider that a leadership shuffle often accompanies a CEO change. "Getting the top team right is the CEO-elect's most important early decision," Dewar said, adding that a CEO's "real leverage comes through leaders" and if they're "not aligned, capable, and energized for the next chapter, no strategy can take hold.""
"Berkshire's finance chief of nearly four decades, Marc Hamburg, will hand over his responsibilities to Berkshire Hathaway Energy's finance boss, Charles Chang, in June 2026, but hold off on retiring until June 2027 to ease the transition. Adam Mead, the author of "The Complete Financial History of Berkshire Hathaway," told Business Insider that Hamburg was "probably the least appreciated person in Berkshire from the outside looking in." Mead said his "contributions to structuring deals and managing the financials can't be overstated.""
Berkshire Hathaway implemented a significant management reshuffle that includes a surprise exit, a retirement, and a new position, with Greg Abel slated to succeed Warren Buffett on January 1. Leadership changes often accompany CEO transitions because the CEO-elect must assemble an aligned, capable top team to execute strategy effectively. Such transitions can prompt senior leaders to reconsider their roles and either stay or depart. Long-serving finance chief Marc Hamburg will transfer responsibilities to Charles Chang in June 2026 and delay retirement until June 2027 to smooth the handover. Observers underscore Hamburg's substantial contributions to deal structuring and financial management.
Read at Business Insider
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