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.