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Warren Buffett will resign as CEO of Berkshire Hathaway at the end of the year.
[Warren Buffett will resign as CEO of Berkshire Hathaway by the end of the year] At the end of the shareholders’ meeting, Buffett suddenly announced that he will resign as CEO of Berkshire Hathaway by the end of the year. He will suggest the previously announced successor, the company’s Vice Chairman Greg Abel, to take over as CEO at the end of the year. Buffett stated that he “will still be around” to provide assistance, but the “final decision-making authority” will be in Abel’s hands. According to Buffett, Abel and other board members were unaware that such a thing would happen. Only Buffett and his children knew. Buffett expressed no intention to sell any shares of Berkshire but will gradually donate them. (Global Market Report)