Overview

• Warren Buffett confirmed his retirement from operational management of Berkshire Hathaway during the company's 60th annual shareholder meeting in Omaha, Nebraska.
• Buffett has formally proposed Greg Abel, a longtime executive with the firm since 1999 and head of non-insurance operations since 2018, as his successor.
• Berkshire Hathaway's stock experienced a brief dip following the announcement, falling from €746 to €600 before recovering to approximately €700.
• Buffett will remain in an advisory role post-retirement, continuing to provide guidance on key decisions for the firm.
• During the announcement, Buffett also criticized U.S. trade policies, warning against using tariffs as a weapon and emphasizing the benefits of global economic cooperation.