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5mo ago

Warren Buffett Announces Retirement as Berkshire Hathaway CEO, Greg Abel Confirmed as Successor

Buffett will step down at the end of 2025 after six decades of leadership, with Abel set to take over as CEO starting January 2026.

Greg Abel will succeed Warren Buffett as the head of Berkshire Hathaway.
On Saturday Warren Buffett announced he would step down from his role as CEO of Berkshire Hathaway, the company he has led for 60 years.
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Warren Buffett became CEO in 1970 after his investment partnership acquired Berkshire, then a textile business, in 1965.

Overview

  • Berkshire Hathaway's board unanimously approved Greg Abel as CEO, effective January 1, 2026, following Buffett's announcement at the annual shareholder meeting.
  • Warren Buffett, 94, will remain as chairman of Berkshire Hathaway's board, ensuring continuity during the leadership transition.
  • The company's stock fell 5% following the announcement, reflecting investor uncertainty, though retail investors have shown renewed confidence in recent trading.
  • Berkshire Hathaway holds a record $347.7 billion in cash, positioning the conglomerate for strategic investments under Abel's leadership.
  • Buffett praised Abel's management style and suitability for the role, emphasizing his long-standing contributions to Berkshire's success.