Incoming Berkshire Hathaway CEO Greg Abel is assembling his team to help him lead the conglomerate Warren Buffett built starting in January after a couple of key departures.

Warren Buffett's company reported less than half as much profit in the second quarter as it took a $3.76 billion writedown on the value of its stake in Kraft Heinz as that iconic food producer considers largely undoing the merger that Berkshire Hathaway helped bankroll.