Warren Buffett has retired as Berkshire Hathaway’s CEO, passing the torch to Greg Abel. Abel’s main challenges include managing Berkshire’s massive cash reserves and expanding his role without disrupting the company’s culture. Berkshire’s cash pile recently exceeded $350 billion, exceeding the market values of major companies like Home Depot and Procter & Gamble. Abel may consider options like stock buybacks, acquisitions, or dividends to deploy this cash. However, he must navigate challenges in making allocation decisions and maintaining Berkshire’s core values without Buffett’s track record.

Read more at Yahoo Finance.: Warren Buffett’s reign as Berkshire Hathaway CEO is over. New boss Greg Abel faces 3 big challenges in his wake.