At the beginning of the letter, Abel called Buffett "arguably the greatest investor of all time" and admitted that "Warren is obviously very difficult to match." He stressed that Buffett and his vice president and right-hand man, Charles Munger, have created a business well prepared for the transition and the next 60 years of further development.
Abel stated that Buffett is now chairman of Berkshire's board of directors and is still in office five days a week, and is still a co-owner of the holding company (although all of his shares will be donated to charity for about 10 years after his death).
Berkshire's new CEO assured shareholders that the company's culture and values remain unchanged and will continue throughout its history.