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Buffett will resign as CEO of Berkshire Hathaway at the end of the year.
[Buffett will resign as CEO of Berkshire Hathaway at the end of the year] At the end of the shareholders’ meeting, Buffett suddenly announced that he would resign as CEO of Berkshire Hathaway at the end of the year. He will recommend his previously announced successor, the company’s Vice Chairman Greg Abel, to take over as CEO at the end of the year. Buffett stated that he “will still be around” to provide help, but the “final decision-making power” will be held by Abel. According to Buffett, neither Abel nor other board members were aware that this would happen. Only Buffett and his children knew. Buffett stated that he has no intention of selling any shares of Berkshire, but will gradually donate them. (Global Market Report)