Overview

• Warren Buffett, 94, announced his decision to step down as CEO of Berkshire Hathaway by the end of 2025 during the annual shareholder meeting in Omaha, Nebraska.
• The Berkshire Hathaway board unanimously approved Greg Abel, 62, as Buffett's successor, effective January 1, 2026.
• Buffett will remain chairman of the board and retain all his Berkshire shares, ensuring his continued influence over the company.
• Berkshire Hathaway shares dropped approximately 6% in early trading following the announcement, reflecting investor uncertainty about the leadership transition.
• Greg Abel, a long-serving vice chairman overseeing non-insurance businesses, emphasized continuity in Berkshire's investment philosophy and operational approach.