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MEETING. People watch as Berkshire Hathaway chairman Warren Buffett is seen on a screen speaking at the Berkshire Hathaway Inc annual shareholders' meeting, in Omaha, Nebraska, US, May 3, 2025.
Brendan McDermid/REUTERS
Warren Buffett will hand over the reins to Vice Chairman Greg Abel
Warren Buffett is ending his career as perhaps the world’s most famous and revered investor, saying he will step down as chief executive of Berkshire Hathaway at the end of 2025.
According to a Reuters report, Buffett will hand over the reins to Vice Chairman Greg Abel.
Buffett reportedly made the announcement at the Berkshire’s annual meeting in Omaha on Saturday, May 3.
“I think the time has arrived where Greg should become the chief executive officer of the company at year end,” Buffett, 94, said on Saturday, May 3, as quoted in the Reuters report.
Buffett has been at the helm of Berkshire for 60 years, earning him a household name and kudos as an American business success story.
The report also said Berkshire’s board of directors hadn’t been aware of Buffett’s plans prior to the announcement, though Buffett had told his two children, who are directors.
Berkshire’s board of directors will meet on Sunday, May 4, to discuss the transition. – With reports from Reuters/Rappler.com
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