Fact checked by Katie Reilly Greg Abel is in a tough position. He’s about to replace the most famous investor in the world as CEO of Berkshire Hathaway Inc. (BRK.A., BRK.B) at a time when economic uncertainty is the big story,

Succession planning is a challenge for many leaders, but Warren Buffett's choice of Greg Abel as Berkshire Hathaway's next CEO is an example of succession done right.

Abel was named vice chairman of Berkshire Hathaway in 2018. Although he has been at the company for more than two decades, he is considered to be much more guarded and hands-on than Buffett.