Warren Buffett changed the succession plan by saying Greg Abel will run Berkshire's investments, even though he's never been a stock picker

At the Berkshire Hathaway meeting, Warren Buffett announced that Greg Abel will oversee the company's investments once he becomes CEO, a shift from previous plans where Ted Weschler and Todd Combs were expected to manage the portfolio. Abel, with a history in utility management and acquisitions, has not been a stock picker, raising questions about his future role in capital allocation. Despite concerns about transparency and the complexity of stock picking, Abel reassured shareholders that Berkshire’s current capital allocation principles would continue.