Warren Buffett to Step Down as CEO ofโข Berkshire Hathaway, Greg Abel to โขSucceed Him
Warren Buffett, the legendary investor who has steered โขberkshire Hathaway โฃfor six โdecades, willโฃ relinquish his role as CEO at the end โขof 2025, โthe company announced โFriday. โขHe will be succeeded by Greg โAbel, currently head of Berkshire’s non-insurance operations. Buffett, who will turn โ95 in August 2025, will remain chairman of the board. The โtransition marks the end ofโ an era for one of the โขworld’s most successful โคconglomerates, โcurrently holding a record $380 billion in cash.
The move, long anticipated, ensures a smooth โขsuccession for the $789 billion (market capitalizationโ as of Nov. 9, 2025) company โคand its shareholders. Abel, overโค 60, has worked closely with Buffett for years, โgaining extensive experience across Berkshire’s diverse holdings. He โwill take the โขhelm of โคthe โannual shareholder meeting in Omaha in May 2025, marking the first time Buffett will notโ be present on stage.
Buffett’s departure follows a โฃ60-year run transforming Berkshire Hathaway fromโค a struggling textile company into โaโ sprawling empire encompassing insurance, railroads, energy, and a vast portfolio of stocks, โincluding Apple, Bankโค of America, and Coca-Cola. he built โa reputation for value investing, acquiring companies with strong fundamentals at reasonable pricesโ and holding them โฃfor the long term.
Berkshire Hathaway’s operating profit rose by more โคthan a third in the third quarter of 2025, โขdemonstrating the continued strength of its underlying businesses. The company recently divested its 17-year stake in Chinese automaker BYD in September 2025.