Warren Buffett to Step Down as Berkshire Hathaway CEO in 2025

Published 10 hours agoBRK-B

Warren Buffett to Step Down as Berkshire Hathaway CEO in 2025

Warren Buffett, the 94-year-old chairman and CEO of Berkshire Hathaway, has announced plans to retire at the end of 2025. After six decades of leading the investment giant, Buffett has named Vice Chairman Greg Abel as his successor, marking a significant milestone in the company's history.

Greg Abel, 62, joined Berkshire Hathaway in 1999 after it acquired MidAmerican Energy. With roles as CEO of Berkshire Hathaway Energy from 2008 to 2018 and currently chairman and CEO, Abel was appointed Vice Chairman of non-insurance operations in 2018. In 2021, Reuters reported Buffett's directors had already agreed that Abel would succeed him if necessary.

The leadership transition is seen as a commitment to maintaining Berkshire Hathaway's well-regarded decentralized operating model and conservative financial approach. Following the announcement, the market reacted positively, with Berkshire's Class A shares trading at $809,350. Investors remain confident in Abel's ability to uphold the legacy of successful long-term investment strategies that the conglomerate is known for.

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