Warren Buffett surprised investors during a recent shareholder meeting by announcing his intention to retire by the year's end, naming Greg Abel as his successor. Abel, who has managed Berkshire's non-insurance operations, was previously considered a potential successor but was thought to take the role only after Buffett's passing. Buffett, 94, reassured shareholders of his faith in Abel's leadership and declared he would retain his investment in the company, indicating confidence in its future under Abel's guidance.
Warren Buffett shocked shareholders by announcing plans to retire at the end of the year, endorsing Greg Abel as his successor at Berkshire Hathaway.
He stated, 'I have no intention - zero - of selling one share of Berkshire Hathaway. ... the prospects of Berkshire will be better under Greg's management than mine.'
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