Warren Buffett The last 60 years of his career career have been spent in Burkeshire Hathwee’s helm. On Saturday, he announced his tenure as the CEO is approaching.
The 94 -year -old Investing Legend made the announcement during the company’s annual shareholder meeting in Omaha, Nebraska. “The time has come,” said Buffett. He confirmed that Greg Abel, who has long been seen as his potential successor, is expected to take over the role of the CEO once he retires from office.
“It feels like the right moment to take over the company’s leadership for Greg this year,” said Buffett.
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Buffett revealed that except for his children, the rest of the board of Burkeshire – including Abel, was not notified ahead of time. He acknowledged that the announcement was a surprise to him too. Buffett told the crowd, “Greg do not know that I’m right now.”
Although he would abandon the high executive character, Buffett indicated that he would still be available in consultation capabilities when needed.
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Buffet’s departure indicates the end of a change period. Under his leadership, Burkeshire Heathwei joined the largest and most diverse gatherings in the United States from a struggling textile manufacturer. By May 2025, the company has a market cap of about $ 1.2 trillion.
Buffett is personally about $ 170 billion, according to Bloomberg, and Berkeshire is the largest shareholder in Heathu.
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