US EditionWarren Buffett to Retire as Berkshire CEO, Greg Abel to Take Over
- Warren Buffett announced on Saturday at Berkshire Hathaway's Omaha shareholder meeting that he will retire as CEO at the end of the year and recommend Greg Abel as his successor.
- Buffett made this decision after a six-decade tenure, despite previously stating no intention to retire, reflecting his age of 94 and long-term succession planning with Abel.
- Abel, 62, currently manages all noninsurance businesses at Berkshire and has been Buffett's designated successor for years, expected to lead the company effectively amid $347.7 billion in cash reserves.
- Buffett announced that it is now appropriate for Greg to take over as CEO of the company by the end of the year, expressing confidence that Berkshire’s future will be stronger under Abel’s leadership.
- The retirement marks the end of an era for Berkshire, with shareholders giving Buffett a standing ovation, and it signals confidence in continuity while leaving open questions about Abel’s investment choices.
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Warren Buffett Announces Intention to Retire by End of 2025
Investor and billionaire Warren Buffett told an arena full of shareholders on May 3 that he will retire by the end of the year, capping off roughly six decades of running his Berkshire Hathaway firm that made him a world-famous investor. Buffett said he will recommend his firm’s vice chairman, Greg Abel, to replace him in discussions with Berkshire Hathaway’s board on Sunday. “I think the time has arrived where Greg should become the chief execu…
·New York, United States
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Leaning Left100Leaning Right54Center195Last UpdatedBias Distribution56% Center
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