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3w ago

Warren Buffett to Step Down as Berkshire Hathaway CEO After Six Decades

Greg Abel will assume the role of CEO on January 1, 2026, as Buffett transitions to focus on his role as board chairman.

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A cutout picture of Berkshire Hathaway Chairman Warren Buffett welcomes shareholders to shop at the Pampered Chef booth at the Berkshire Hathaway Inc annual shareholders' meeting in Omaha, Nebraska, U.S. May 3, 2024. REUTERS/Scott Morgan

Overview

  • Warren Buffett, 94, announced his decision to step down as CEO of Berkshire Hathaway by the end of 2025, marking the end of his legendary tenure since 1965.
  • Greg Abel, vice chairman of non-insurance operations, has been confirmed as Buffett's successor and will officially take over as CEO at the start of 2026.
  • Buffett will remain chairman of the board, ensuring continuity and providing mentorship to Abel as Berkshire navigates a challenging economic landscape.
  • Under Buffett's leadership, Berkshire Hathaway grew into a $1.16 trillion conglomerate with 189 subsidiaries, $348 billion in cash, and a reputation for long-term value creation.
  • Abel, praised for his hands-on leadership style, has managed Berkshire's non-insurance businesses since 2018 and is expected to uphold the company's culture and strategic priorities.