Warren Buffett announced his intention to step down as CEO of Berkshire Hathaway at the end of the year after 55 years in charge. He supports Greg Abel, the current vice chair of non-insurance operations, as his successor. Abel, who has a more hands-on management style, is expected to uphold Buffett's investment philosophy and maintain the company's strong financial position. The decision ultimately rests with the company's board of directors as they consider Abel's leadership and vision for the future.
Buffett stated, "I think the time has arrived where Greg should become the chief executive of the company at year end," confirming his decision to step down.
Abel emphasized his commitment to maintaining the companyâs 'fortress of a balance sheet,' which is vital for making significant investments without heavy reliance on banks.
Collection
[
|
...
]