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.