Berkshire’s Board Follows Buffett’s Advice, Naming Abel Next CEO

Berkshire Hathaway Inc. followed Chief Executive Officer Warren Buffett’s recommendation, naming Vice Chairman Greg Abel to replace the billionaire as CEO, effective Jan. 1.

The vote Sunday by Berkshire’s directors was unanimous, the Omaha, Nebraska-based company said in a statement Monday. Buffett will remain chairman of the board, Berkshire said.