Warren Buffett to step down from the position of CEO of Berkshire Hathaway by the end of the year, asking the Board of Directors to confirm Greg Abel as a successor (correction) Warren Buffett to step as a CEO of Berkshire Hathaway by the end of the year by the end of the year
Editor’s note: This story was updated to reflect that the advertisement took place on Saturday at the annual meeting of Hathaway.
Warren Buffett Attendance shock in Berkshire Hathaway Inc. BRK The annual meeting on Saturday by announcing that it will be recessed as an executive president by the end of the year, with Greg Abel He is scheduled to succeed him.
What happenedAssociated Press Reports “I think the time has arrived as Greg should become the company’s CEO at the end of the year,” Buffett said. Bavite 95 will run on August 30.
Buffett retirement coincides with the end of the 60 -year period, during which Berkshire Hathaway from a texture company struggled with a large bloc with a market capitalization of $ 1.16 trillion.
Buffett plans to keep Berkshire’s shares. He said: “I would like to add this. The decision to maintain every share is an economic decision because I believe that Berkshire’s possibilities will be better under the management of Greg than me.” He also mentioned his “knocking” intention to provide guidance during the transition, but operational decisions and the allocation of capital will be under ABEL control.
This announcement was a surprise for most Berkshire’s board members, as only Pavite’s children, Hui and Soussi, are aware of the plan. ABEL has been a potential successor to Bavate since at least 2021.
Why do it matterPavite’s retirement indicates the end of an era in Berkchire Hathaway. Investment strategies and its leadership were effective in the company’s growth.
ABEL appointment as CEO is a big step, as it represents a new chapter in the company’s history.
His leadership will be closely monitored by both investors and market analysts, as the challenge of directing the group in the post -Buffet era faces.
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