Buffett Bows Out: Berkshire to Welcome New CEO by 2025
World-renowned investor and long-time Chief Executive Officer of Berkshire Hathaway, Warren Buffett, has announced that he will step down from his role as CEO by the end of 2025, according to a report by Reuters.
Speaking at the company’s annual general meeting in Omaha, Buffett said, “I think the time has come for Greg Abel to be CEO.”
At 94, Buffett has led Berkshire Hathaway for over six decades, transforming it into one of the largest and most successful conglomerates in the United States.
Greg Abel, who has been Vice Chairman of the company since 2018 and considered Buffett’s successor since 2021, will assume the CEO position. Abel stated, “I’m proud and grateful to be part of Berkshire.”
Buffett noted that he will remain on the board and may be of use occasionally, but all final decisions will now rest with Abel. He also confirmed that he has no plans to sell his Berkshire shares and intends to donate them after his death.
Leaders such as JPMorgan CEO Jamie Dimon and Apple CEO Tim Cook have praised Buffett for his exemplary leadership and integrity.
