No. of Recommendations: 4
Choosing Greg was one of the most important decisions Buffett made in decades. At his first annual meeting, we could see why. A corporate Mr. Fix-It is walking through every business, identifying key performance indicators, installing the right incentives, bringing technology to them, and replacing managers who need replacing — doing things Buffett could not and would not do, but that need to be done.
Abel is not Buffett and that is okay. In fact, it is a good thing. Greg Abel may not draw 40,000 people to Omaha for the annual meeting. But he’ll make the difficult decisions Buffett didn’t want to make. He’ll make the trains run on time, literally and figuratively.
Greg Abel was given authority over all non-insurance operations in early 2018. He's had the authority to do all this for 8 years now, and yet "BNSF and GEICO are the ones that matter most, and both have become hallmarks of mediocrity"?
Perhaps Greg has *even more* authority now Buffett is no longer CEO? Is that what we're hoping?
