OMAHA (dpa-AFX) - Berkshire Hathaway, Inc. (BRK-A) confirmed Monday that Berkshire's Board of Directors voted unanimously at the Annual Shareholders Meeting held on Saturday to appoint Greg Abel to become Berkshire's President and CEO, effective on January 1, 2026.
Abel, 62, joined Berkshire Hathaway's Board of Directors in January 2018 as vice chair - non-insurance operations. He has been with Berkshire for 25 years and was identified as Buffett's likely replacement in 2021.
Berkshire's Chairman and CEO Warren Buffett had announced at a question and answer session that preceded the Annual Shareholders Meeting that he was going to recommend to Berkshire's Board of Directors at the meeting that Abel, Berkshire's Vice Chairman Non-Insurance Operations be appointed Berkshire's CEO.
Buffett, 94, will remain the Chairman of the Board of Directors, marking the conclusion of his six-decade leadership of the company.
Buffett had earlier announced that he will step down as CEO of Berkshire Hathaway at the end of 2025.
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