OMAHA, Neb. (Reuters) – On Thursday, one of Berkshire Hathaway’s most senior directors (NYSE:), endorsed Greg Abel for the role as Warren Buffett’s successor.

Ronald Olson stated that Buffett has his total trust and the Berkshire board also believes in him at the Berkshire System Summit. The summit was hosted by University of Nebraska-Omaha.

Abel (59) was the former chief executive at Berkshire Hathaway Energy. He then became a vice chair overseeing Berkshire’s non-insurance business in 2018.

Buffett (91) stated that Abel had been chosen by the board to succeed him as CEO. Buffett declared a year earlier that “if it were to occur to me tonight, Greg would take over the reins tomorrow morning.”

Olson spoke out in advance of Berkshire’s annual gathering, which starts Friday. Olson said Abel “understands numbers better than any person I know, understands people better that anyone I know.”

Abel said that Abel is close to Berkshire’s non-insurance subsidiaries. They include business in the railroad and manufacturing sectors, among others.

Olson explained that there is no doubt that he brought to bear closer connections between the parent and its subsidiaries.

Charlie Munger, Vice Chairman of Berkshire, and Buffett (98) are still responsible for capital allocation decisions. Buffett is responsible for the majority of Berkshire’s common stocks investments. Ajit Jain is another vice chair and oversees the insurance companies.