Buffett’s Probable Successor Helps Shares Hit Record By Investing.com

By Christiana Sciaudone

Investing.com — Berkshire Hathaway B (NYSE:BRKb) hit a record after Warren Buffett kinda named his replacement this weekend.  

Vice Chairman Greg Abel, who runs the company’s non-insurance operations, will likely take over for the billionaire after CEO and Chairman Buffett told CNBC that, “the directors are in agreement that if something were to happen to me tonight, it would be Greg who’d take over tomorrow morning.”

There has long been speculation over who will be the next person to lead the legendary investor’s company. Berkshire Hathaway (NYSE:BRKa) is, of course, a holding company that owns subsidiaries engaged in everything from insurance to railroads, such as Geico and Burlington Northern Santa Fe. 

Shares are up more than 1%.