Buffett to Step Down as CEO of Berkshire Hathaway at Year's End

Omaha, NE, May 5, 2025-Warren Buffett said Saturday he plans to step down as Berkshire Hathaway CEO at the end of this year, and that he will recommend Greg Abel succeed him, reports Yahoo Finance.

"‘I think it's the time has arrived where Greg should become the chief executive officer of the company at year-end,’ said Buffett, who was chairing his 60th annual meeting. ‘And I want to spring that on the directors, effectively, and give that as my recommendation.’

“Abel, currently vice chairman at Berkshire Hathaway who oversees the company's non-insurance businesses, had been tabbed as Buffett's successor back in 2021.

“Buffett added that ‘I would still hang around and could conceivably be useful in a few cases. But the final word would be Greg’s.’”