Greg Abel Promises to Uphold Berkshire’s Culture in First Letter

Greg Abel used his inaugural letter as chief executive officer of Berkshire Hathaway to reassure investors that the company would continue to operate with its long-held principles espoused by Warren Buffett.

The 18-page letter started with a tribute to Buffett, the billionaire investor who ran the company for more than six decades and adhered to the principles of seeking out value and investing over the long term. Abel called him “arguably the greatest investor of all time,” but said his mentor notched an equally impressive achievement in building Berkshire into a lasting enterprise, along with longtime business partner Charlie Munger.