Warren Buffett, the long-standing CEO of Berkshire Hathaway, made a surprising announcement during the company's annual meeting in Omaha, stating he would step down by year-end. This decision stunned the audience, who had been energized by his sharp responses during the nearly five-hour Q&A session beforehand. Buffett, 94, shared he hadn't informed his board or successor, Greg Abel, of his plans. The audience responded with standing ovations, reflecting both admiration for Buffett's contributions and the emotional weight of his departure.
The legendary investor and Berkshire Hathaway boss made the surprise announcement in the closing minutes of a nearly five-hour-long Q&A on Saturday at his company's annual meeting in Omaha.
Buffett revealed that he had informed neither Berkshire's board - apart from two of his three children who are directors - nor his planned successor sitting next to him, Greg Abel.
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