Warren Buffett, at 94, announced his retirement as CEO of Berkshire Hathaway during the company's annual meeting, surprising many shareholders. He will hand leadership to Greg Abel, currently vice-chair and manager of the company’s investments. Buffett received heartfelt applause for his six decades leading the firm. He assured investors he retains shares, expressing confidence in Berkshire under Abel’s guidance. The board had kept the news confidential, revealing only to Buffett's children ahead of the announcement, marking a significant transition in the company's history.
Buffett's announcement of his retirement after 60 years as CEO marks a pivotal point for Berkshire Hathaway, entrusting leadership to Greg Abel.
Buffett emphasized optimism for Berkshire's future under Abel's leadership, stating, 'I think the prospects of Berkshire will be better under Greg's management than mine.'
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