Warren Buffett to step down from Berkshire at year's end, Greg Abel to succeed Oracle of Omaha

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Source: CNN

In a shock announcement, famed investor Warren Buffett said Saturday at Berkshire Hathaway’s annual shareholder meeting at CHI Health Center in Omaha, Nebraska, that he would step down as CEO at the end of the year.

Greg Abel would take over at the end of the year, pending board approval, and Buffett said he would not sell one share of Berkshire stock. Abel, the vice-chairman of non-insurance operations of Berkshire, was designated as Buffett’s successor in 2021. It is not clear whether Abel would assume the chairman role.

Buffett said only his children knew he would be stepping down.



Read more: https://www.cnn.com/2025/05/03/business/warren-buffett-berkshire-hathaway-meeting