Berkshire Hathaway announced a significant reorganisation of its top management team on Monday as the company prepares for Warren Buffett’s long-planned handover of responsibilities to Greg Abel. The leadership transition, one of the most anticipated in global corporate history, moves closer as Abel — currently vice chairman overseeing non-insurance operations — steps into the role long held by Buffett.

The management shakeup is aimed at streamlining decision-making and ensuring operational continuity across Berkshire’s vast portfolio of businesses. Analysts view the development as a strategic move to reinforce Abel’s authority and pave the way for a smooth transition as Buffett gradually steps back from day-to-day oversight.

Buffett, who has led Berkshire for over five decades and transformed it into a multinational powerhouse spanning insurance, energy, railroads, consumer goods, and financial services, will continue to serve as chairman, offering strategic guidance. Abel, considered Buffett’s natural successor, is widely respected for his track record at Berkshire Hathaway Energy and his deep understanding of the group’s operating philosophy.

The restructuring underscores the company’s commitment to long-term stability as it enters a new phase without Buffett at the operational helm.