OMAHA (dpa-AFX) - Warren Buffett announced that he will step down as Chief Executive officer of Berkshire Hathaway at the end of 2025, marking the conclusion of his six-decade leadership of the company. Buffett, 94, shared the news during Berkshire Hathaway's annual shareholders meeting in Omaha, Nebraska.
Despite previously expressing his desire to work indefinitely, Buffett has now confirmed his decision to step down and has recommended Vice Chairman Greg Abel as his successor. Abel, 62, has been with Berkshire for 25 years and was identified as Buffett's likely replacement in 2021.
Buffett, who has long been synonymous with the explosive growth and influence of the equities market, remains in good health but now uses a cane.
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