The Globe and Mail reports in its Friday edition that Berkshire Hathaway's new chief executive officer, Greg Abel, faces numerous challenges as the successor to Warren Buffett. A Reuters dispatch to The Globe says this Saturday, Wall Street will see how he tackled one unique to Berkshire: the legendary annual letter to shareholders. Mr. Buffett, 95, stepped down at year-end, concluding six decades in which he transformed a failing textile company into a more than $1-trillion (U.S.) conglomerate. While still chairman, Mr. Buffett said in November he would be "going quiet" as Mr. Abel, 63, took charge. Mr. Buffett is a tough act to follow. Mr. Abel's tenure has focused more on the nuts and bolts of Berkshire's businesses and, according to Berkshire expert Evan Pondel: "Abel hasn't been an easy person to get to know at Berkshire. The annual letter is his opportunity to establish his voice, tone and strategy." Mr. Abel joined Berkshire in 2000. "Management credibility has been a big part of Berkshire's strategy," said Greg Miller at University of Michigan specializing in financial communications. "Buffett's name brought credibility to what the company does and the choices it makes. Abel needs to step in and continue that."