Warren Buffett to Step Down as CEO of Berkshire Hathaway by End of Year

Warren Buffett has confirmed plans to step down as Chief Executive Officer of Berkshire Hathaway before the end of 2025. Speaking at the company’s annual shareholder meeting, he announced that Gregory Abel, Vice Chairman of Berkshire Hathaway and head of Berkshire Hathaway Energy, will succeed him.

Abel’s appointment was anticipated. Buffett had identified him as his likely successor as early as 2021. Addressing the transition, Buffett stated that while he will continue as an adviser, Abel will take full responsibility for the company’s key management decisions.

Buffett also reaffirmed his long-term commitment to the company. He said he will retain his shares and, after his death, they will be transferred to a charitable foundation overseen by his heirs.

Gregory Abel began his career at PricewaterhouseCoopers before joining CalEnergy in 1992. He later became CEO after the company was acquired by Berkshire Hathaway.

Buffett, regarded as one of the most successful investors of all time, was valued at $162 bn by Forbes in April, placing him fifth on the list of the world’s wealthiest individuals. As of early 2025, Berkshire Hathaway had a market capitalisation of nearly $1 trillion, ranking among the ten largest companies in the United States.