Warren Buffett will step down as Berkshire Hathaway CEO

Renowned investor Warren Buffett has announced his plan for Greg Abel to succeed him as CEO of Berkshire Hathaway by the end of 2025.

During the company’s annual shareholder meeting, Buffett stated, “I think the time has arrived where Greg should become the chief executive officer of the company at year end.”

Despite his decision to step down, the 94-year-old Buffett mentioned that he would still be involved in some capacity and would discuss his formal role with Abel during the upcoming board meeting.

Abel, currently serving as Berkshire Hathaway’s vice chairman for non-insurance operations, had been previously identified by Buffett as his successor in the company.

While Berkshire Hathaway has diversified investments, technology remains a significant focus. Even with the sale of half its Apple stock last year, the company continues to hold a substantial portion of its portfolio in the tech industry.