Warren Buffett will step down as CEO of Berkshire Hathaway at the end of 2025, the company confirmed Saturday, according to The Wall Street Journal. Abel will take the helm after leading Berkshire’s noninsurance operations for years and playing a key role in major acquisitions. The board has not yet finalized the plan, but Buffett said he expects it to act on his recommendation soon. Abel was first named successor in 2021, though the public transition timeline was unknown until Buffett’s announcement at the close of the annual shareholder meeting. In a recent letter, Buffett praised Abel’s readiness and values, stating he’ll be “more successful than I have been.” Abel is expected to assume a more active management style than Buffett, who historically took a hands-off approach with Berkshire’s portfolio companies.
Category
🗞
NewsTranscript
00:00It's Benzinga bringing Wall Street to Main Street.
00:02Warren Buffett will step down as CEO of Berkshire Hathaway at the end of 2025,
00:06the company confirmed Saturday, according to the Wall Street Journal.
00:10Greg Abel will take the helm after leading Berkshire's non-insurance operations for years
00:14and playing a key role in major acquisitions. The board has not yet finalized the plan,
00:18but Buffett says he expects it to act on his recommendation soon.
00:23Abel was first named successor in 2021, though the public transition timeline was unknown
00:28until Buffett's announcement at the close of the annual shareholder meeting.
00:33In a recent letter, Buffett praised Abel's readiness and values,
00:37stating he'll be more successful than I have been.
00:39Abel is expected to assume a more active management style than Buffett did,
00:44who historically took a hands-off approach with Berkshire's portfolio company.
00:49For all things money, visit Benzinga.com slash GSTV.