Berkshire Hathaway’s (NYSE: NYSE:BRK.A) (NYSE:BRK.B) board has unanimously approved Greg Abel as the company’s next president and CEO, effective January 1, 2026, CNBC reported Monday, citing sources.

Warren Buffett has done what he can to prepare his successor at Berkshire Hathaway. He has tasked CEO-in-waiting Greg Abel with running most of the companies the sprawling conglomerate owns. He named Abel a vice chairman,

Abel was named vice chairman of Berkshire Hathaway in 2018. Although he has been at the company for more than two decades, he is considered to be much more guarded and hands-on than Buffett.