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Warren Buffett Steps Down as Berkshire CEO, Greg Abel to Lead Starting Jan. 1

Investors now look to Greg Abel's plan for Berkshire's roughly $380 billion cash hoard.

Berkshire Hathaway Chairman Warren Buffett attends the Berkshire Hathaway Inc annual shareholders' meeting in Omaha, Nebraska, U.S., May 3, 2024. REUTERS/Scott Morgan/ File Photo
FILE - Warren Buffett, chairman and CEO of Berkshire Hathaway, opens a bottle of Cherry Coke during a game of bridge outside Berkshire-owned Borsheims jewelry store in Omaha, Neb., Sunday, May 6, 2018. (AP Photo/Nati Harnik, File)
FILE - Warren Buffett, Chairman and CEO of Berkshire Hathaway, puts pen to paper during a game of bridge following the annual Berkshire Hathaway shareholders meeting in Omaha, Neb., Sunday, May 5, 2019. (AP Photo/Nati Harnik, File)
FILE - Warren Buffett, Chairman and CEO of Berkshire Hathaway, speaks to reporters before presiding over the annual shareholders meeting in Omaha, Neb., May 4, 2019. (AP Photo/Nati Harnik, File)

Overview

  • December 31 was Warren Buffett’s final day as chief executive, and he will remain Berkshire Hathaway’s chairman.
  • Greg Abel, 63, a longtime vice chairman who oversaw non‑insurance operations and built Berkshire Hathaway Energy, becomes CEO on January 1.
  • Company and analyst commentary signal continuity in Berkshire’s decentralized culture and investing philosophy under Abel.
  • Abel has begun organizational changes, including addressing the departures of investment manager and Geico CEO Todd Combs and retiring CFO Marc Hamburg, and appointing NetJets CEO Adam Johnson to oversee consumer, service and retail businesses.
  • With cash and short‑term investments reported around $380–$382 billion, shareholders are focused on how Abel will allocate or return capital across Berkshire’s operating units and equity portfolio.