Warren Buffett to step down as Berkshire Hathaway CEO by year's end

Warren Buffett, the CEO of publicly traded investment company Berkshire Hathaway, announced at the company's annual shareholder meeting that he will step down by the end of 2025, and his chosen successor will take over as CEO, pending approval from Berkshire's board of directors. According to CNBC, Buffett reiterated that Greg Abel, the company's vice chairman of non-insurance operations, who was previously named by Buffett as his successor, will take over. The Berkshire founder announced:"The time has arrived when Greg should become the Chief executive officer of the company at year-end, and I want to spring that on the directors effectively and give that as my recommendation. "Buffett added that he would stay at the company in an advisory role "but the final word would be what Greg decided," the CEO said source: https://cointelegraph.com/news/warren-buffett-step-down-berkshire-ceo-year-end?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound