Warren Buffett to Step Down as CEO
Tuesday, 06 May, 2025126 words2 minutes
Warren Buffett, the 94-year-old legendary investor known as the 'Oracle of Omaha', has announced his retirement as CEO of Berkshire Hathaway. Buffett revealed his decision at the company's annual meeting, stating that he will step down at the end of the year.
Greg Abel, the current Vice-Chairman, will take over as the new CEO. Buffett had chosen Abel as his successor four years ago but hadn't previously indicated when he would retire. Despite stepping down, Buffett emphasized that he has no intention of selling his Berkshire Hathaway shares.
Berkshire Hathaway, under Buffett's leadership, has grown from a failing textile maker into a massive investment company worth $1.16 trillion. The company owns more than 60 businesses and has significant stakes in major corporations like Apple and Coca-Cola.
