"Today, Warren E. Buffett converted 1,800 A shares into 2,700,000 B shares in order to give these B shares to four family foundations: 1,500,000 shares to The Susan Thompson Buffett Foundation and 400,000 shares to each of The Sherwood Foundation, The Howard G. Buffett Foundation and NoVo Foundation. These donations have been delivered today. Mr. Buffett's comments to his fellow shareholders follow:"
"I will no longer be writing Berkshire's annual report or talking endlessly at the annualmeeting. As the British would say, I'm "going quiet." Sort of. Greg Abel will become the boss at yearend. He is a great manager, a tireless worker and an honest communicator. Wish him an extended tenure. I will continue talking to you and my children about Berkshire via my annual Thanksgiving message."
Warren Buffett will retire at year's end after 60 years leading Berkshire Hathaway and will stop writing the company's annual report and talking at the annual meeting. Greg Abel will become chief executive at year-end and is described as a great manager, tireless worker and honest communicator. Buffett converted 1,800 A shares into 2,700,000 B shares and delivered donations of 1,500,000 shares to The Susan Thompson Buffett Foundation and 400,000 shares each to The Sherwood Foundation, The Howard G. Buffett Foundation and NoVo Foundation. Buffett will continue communicating via an annual Thanksgiving message and expresses gratitude at age 95.
Read at Fortune
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