Warren Buffett said at Berkshire’s annual meeting that he plans to step down as CEO at the end of the year and hand the reins to Greg Abel. Photo: Vincent Tullo for WSJ; Scott Morgan/Reuters

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OMAHA, Neb.—Warren Buffett has done what he can to prepare his successor at Berkshire Hathaway BRK.B 1.80%increase; green up pointing triangle

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He has tasked CEO-in-waiting Greg Abel with running most of the companies the sprawling conglomerate owns. He named Abel a vice chairman, worked with him on recent investments in Japan, and shared the stage with him at Berkshire’s famous annual meetings.

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