Core Viewpoint - Berkshire Hathaway has appointed Greg Abel as the new CEO, with an annual salary of $25 million, significantly higher than Warren Buffett's long-standing salary of $100,000 [1][2]. Group 1: CEO Compensation - Greg Abel's annual cash salary is disclosed as $25 million, a notable increase from his predecessor Warren Buffett, who earned $100,000 annually for over 40 years [1]. - Abel's compensation is higher than the average CEO pay of $18.9 million for S&P 500 companies in 2024 [2]. - Last year, Abel received a salary of $21 million while serving as Buffett's deputy [2]. Group 2: Leadership Transition - Warren Buffett announced his retirement after 55 years as CEO during Berkshire's annual shareholder meeting, leading to the board's unanimous decision to appoint Abel as his successor [3]. - Buffett expressed confidence in Abel's leadership, stating that the time had come for him to take over as CEO [3]. Group 3: Abel's Background and Expectations - Greg Abel, aged 62, has been with Berkshire Hathaway since 2018 as vice chair of non-insurance operations and is also the chair of Berkshire Hathaway Energy [4]. - Abel is expected to uphold the company's investment philosophy and is recognized for a more hands-on leadership style compared to Buffett [4].
Berkshire Hathaway's new CEO has a much higher salary than Warren Buffett did