Xin Lang Cai Jing·2025-10-05 04:05Group 1 - Berkshire Hathaway is preparing for a leadership transition as it modifies its corporate bylaws to facilitate Greg Abel's appointment as CEO [2][5] - The board of directors voted on September 30 to officially separate the roles of Chairman and CEO, a significant change since Warren Buffett has held both positions since 1965 [2][3] - Abel, who has been with Berkshire since 1999 and currently serves as Vice Chairman of Non-Insurance Operations, is set to officially take over as CEO on January 1, 2026 [4][3] Group 2 - Berkshire Hathaway recently announced a $9.7 billion acquisition of Occidental Petroleum's chemical subsidiary, OxyChem, marking its largest deal in three years [6] - The announcement of the acquisition was made by Abel rather than Buffett, indicating a shift in leadership dynamics within the company [7] - Berkshire is the largest shareholder of Occidental Petroleum, holding approximately 28% of its shares and over $8 billion in preferred stock, which yields about 8% annually [7] Group 3 - Occidental Petroleum plans to use $6.5 billion from the acquisition proceeds to reduce debt and initiate a stock buyback program, aiming to enhance its balance sheet [7] - Despite the optimistic outlook from Abel regarding the acquisition, Occidental's stock price fell by as much as 8.1% on the announcement day, closing with a 5.5% decline [8]