At Berkshire Hathaway’s annual meeting, Warren Buffett assured shareholders that Vice Chairmen Greg Abel and Ajit Jain were well-prepared to succeed him. He highlighted Abel’s effectiveness as the company’s future CEO, noting his exceptional leadership. Buffett also praised the role Jain plays, indicating the pair would steer the conglomerate well after his departure. Buffett’s focus on a smooth transition reflects his confidence in their abilities to manage Berkshire’s wide array of businesses.
Buffett, 93, also spoke highly of Apple, though Berkshire recently trimmed its position in the tech giant. Despite the reduction, he praised Apple’s success and impact on Berkshire’s portfolio. The meeting marked Buffett’s 60th with Berkshire, during which he discussed the company’s record $189 billion cash pile, which he expects to grow further. Additionally, he noted the strength of Berkshire’s operating profit, which soared 39% in the first quarter.