Who is Greg Abel, and is he capable of filling Warren Buffett's $1.2 trillion shoes?

Greg Abel will succeed Warren Buffett as CEO of Berkshire Hathaway by year-end.

Abel has been with the company for over 20 years and inherits a $1.2 trillion empire.

Berkshire's investment philosophy and risk management approach will stay unchanged under Abel.

Buffett’s son, Howard, becomes Chairman, while Buffett will stay involved in select cases.