The legendary investor Warren Buffett announced today that he will ask the Berkshire Hathaway Board to make Greg Abel replace it as CEO at the end of 2025.
“I think the time has come when Greg should become the company’s executive director at the end of the year,” Buffett said at the end of the company’s annual shareholders meeting, before his meeting of the Board on Sunday.
At the same time, Buffett, who is 94 years old, said that “would happen” in some way. He and Abel told CNBC that they would like the Sunday Board meeting to discuss what Buffett’s formal role will be after he resigned.
Buffett had previously identified Abel-Currently to the Vice President of Berkshire Hathaway for operations without insurance, as his successor, but had said when Abel would be taken.
While technology is only one of the many areas where Buffett and Berkshire Hathaway invest, has made great bets in the industry. Just after selling half its Apple shares last year, the company represents more than 20% of its portfolio.
