Warren Buffett will remain Chairman of Berkshire Hathaway after stepping down as Chief Executive Officer, the investment holding company has confirmed.
Greg Abel, currently Vice Chairman, will take over as CEO from January 1, 2026. The Board of Directors unanimously approved his appointment. Abel will be responsible for key management decisions, while Buffett is expected to serve as an adviser.
The 94-year-old billionaire first announced plans to hand over the reins earlier in May. Buffett described Abel as the ideal person to lead Berkshire Hathaway and expressed confidence in the company’s future.
«Everything works much better with Greg than with me, because I wouldn’t want to work as hard as he does,» Buffett told shareholders during the company’s annual meeting.
Buffett also pledged not to sell any of his shares. After his death, a significant portion of his wealth will be transferred to a charitable foundation managed by his heirs.
