智通财经记者 孙铭蔚 "我认为，伯克希尔比我能想到的任何一家公司都更有可能在一百年后依然存在。"近日，"股神"沃伦· 巴菲特（Warren Buffett）"退休"后首度发声，力挺公司在后巴菲特时代的表现。 1月1日，执掌伯克希尔·哈撒韦（Berkshire Hathaway）公司长达60年的巴菲特正式将公司首席执行官 （CEO）一职交予接班人格雷格・阿贝尔（Greg Abel）。在接受媒体采访时，巴菲特盛赞阿贝尔的工 作效率远超自己，称"他一周能办成的事，我花一个月都未必能做到"，并表示自己宁愿将个人资金托付 给阿贝尔打理，也胜过美国任何顶尖的投资顾问或首席执行官。 巴菲特表示，阿贝尔不是一个"扭曲的人"，并说他"过着看似正常的生活"，尽管他将经营一家拥有40万 名员工的公司，"这家公司比我能想到的任何公司都更有可能在一百年后仍然存在"。 巴菲特在2025年5月份宣布"退休"后，伯克希尔2025年涨幅为10.9%，虽落后于标普500指数16.4%的涨 幅，但仍实现连续10年正回报。因为一些投资者质疑阿贝尔能否像巴菲特一样管理庞大的业务组合以及 股票投资组合，同时还能从市场获得溢价估值。95岁的巴菲特仍将担任 ...

Core Insights - Apple Inc. is preparing for a transition in its CEO position, with the current CEO approaching retirement age at 65 years old [3] - There is speculation that the current CEO may not fully exit the company but could transition to the role of Chairman of the Board, continuing to influence strategic decisions [3] - The Board of Directors is undergoing changes, with the current Chairman reaching the age limit of 75, creating a structural opportunity for leadership adjustments [3] Summary by Sections - **CEO Transition Preparation** - The company’s board and senior management are actively preparing for a smooth leadership transition [3] - The current CEO, born on November 1, 1960, is nearing the age of 65, raising questions about his future role [3] - **Potential Role Changes** - If the CEO steps down, he may take on the role of Chairman, allowing him to remain involved in strategic decisions [3] - The current Chairman of the Board must leave after reaching the age of 75, which creates a timing opportunity for leadership changes [3] - **Official Confirmation and Timing** - There is no official confirmation regarding the CEO transition, and reports are based on external media speculation [4] - Analysts suggest that the announcement of a new CEO is unlikely before the company’s earnings report at the end of January 2025, to ensure a smooth transition [4] - A post-earnings announcement could allow for adequate preparation for significant events later in the year, such as the global developer conference and fall product launches [4]

Core Insights - Tim Cook, CEO of Apple Inc., may resign as early as next year, with current hardware engineering senior vice president John Ternus being viewed as the likely successor [1][3] - Apple is reportedly accelerating the search for Cook's successor, with preparations for the transition already underway [3][6] - Cook, who has been CEO since 2011, is 65 years old and may remain involved with the company in some capacity after stepping down [6] Group 1 - Tim Cook's potential resignation timeline is suggested to be within the next 1 to 2 years, with no immediate plans to step down before the next quarterly earnings report at the end of January [3] - John Ternus, 50 years old, has been with Apple since 2001 and currently leads all hardware engineering teams, aligning with Apple's shift towards a focus on hardware technology [3][6] - Analysts believe Ternus's technical background fits Apple's current strategic direction, which is moving from an ecosystem-focused approach to a hardware-centric one [6]

Core Viewpoint - Warren Buffett, at the age of 95, announced he will stop writing the annual shareholder letter and will not speak at the annual meeting, marking a significant transition in leadership at Berkshire Hathaway as he prepares to pass the reins to Greg Abel [1][4][5]. Group 1: Leadership Transition - Greg Abel, aged 63, will take over as CEO of Berkshire Hathaway at the end of the year, while Buffett will remain as chairman [6]. - Buffett expressed confidence in Abel, stating that he hopes to retain a significant amount of A-class shares until shareholders build trust in Abel, similar to the trust they had in Buffett and Charlie Munger [7][9]. Group 2: Charitable Donations - Buffett has accelerated his charitable donations, converting 1,800 shares of A-class stock into 2.7 million shares of B-class stock, which he donated to four family foundations, valued at over $1.3 billion [4][8]. - The donations were made to the Susan Thompson Buffett Foundation (1.5 million shares) and three other foundations (400,000 shares each), with the intent to allow his children to manage the wealth [8]. Group 3: Company Performance - Berkshire Hathaway's core business remains strong, with a 34% year-over-year increase in operating profit for the third quarter, and the company holds $381.7 billion in cash as of September 30 [7]. - Buffett acknowledged that while Berkshire's scale is an advantage, it could also become a burden in the future, as many companies may outperform Berkshire in the coming years [7]. Group 4: Future Communication - Buffett will continue to communicate with shareholders through an annual Thanksgiving message, emphasizing the importance of maintaining connections with the shareholder community [10].

Core Insights - Berkshire Hathaway's board has amended its bylaws to ensure that the roles of Chairman and CEO are held by different individuals, with Abel set to take over as CEO on January 1, 2026, while Warren Buffett remains as Chairman [2] - Buffett, who has held both positions since 1965, announced his succession plan during the annual shareholder meeting on May 3, 2023, stating that Abel is capable of leading the company [2] - Abel's first major transaction as CEO will be the $9.7 billion cash acquisition of Occidental Petroleum's chemical business, OxyChem, marking Berkshire's largest acquisition since 2022 [2][3] Company Developments - The acquisition of OxyChem is expected to enhance Berkshire's financial position and provide funding support for its oil and gas operations, according to Occidental's president [3] - The deal is anticipated to close in the fourth quarter of 2025, pending regulatory approvals and other customary closing conditions [3] - As of June 30, 2023, Berkshire held approximately $344 billion in cash and cash equivalents, close to its historical peak [3]

Core Points - Berkshire Hathaway has separated the roles of Chairman and CEO, with the board voting on September 30 to amend the company's bylaws, effective immediately [2][4] - Greg Abel, the current Vice Chairman, is set to become the CEO in early 2026, marking a significant leadership transition [6][7] - Berkshire announced a $9.7 billion acquisition of Occidental Petroleum's chemical business, OxyChem, which is the largest acquisition since 2022 and was orchestrated by Greg Abel [9][12] Company Governance - The amendment to the bylaws includes a new clause that separates the roles of Chairman and CEO, reflecting a shift in governance structure [4][6] - Warren Buffett, who has held both positions since 1965, will continue as Chairman while Greg Abel prepares to take over as CEO [6][8] Acquisition Details - The acquisition of OxyChem is a cash transaction valued at $9.7 billion, aimed at enhancing Berkshire's portfolio with a well-managed asset [9][11] - Occidental Petroleum's motivation for the sale is to alleviate debt, with plans to use $6.5 billion from the sale to reduce its debt load [11][12] - The deal is expected to close in Q4 2025, pending regulatory approval and other customary closing conditions [12]