But Olson added that Abel is likely “a good number of years off” from taking over, with Buffett and Munger still on board.
Buffett publicly designated him as his likely successor as CEO in 2021, after Munger appeared to let slip the board's thinking at that year's annual meeting.
After Buffett departs, Berkshire is expected to name his eldest son Howard as non-executive chairman to preserve its culture, where business units operate essentially without interference from the top.
Upon becoming CEO, Abel would likely experience "more formality" in his relationship with directors than Buffett, who took over in 1965, now has.
"The bottom line is, not only is Warren satisfied, Charlie is satisfied that Greg ... will carry out that culture," he continued.