Warren Buffett says Greg Abel should take over as Berkshire Hathaway CEO by year’s end

• Berkshire Hathaway, CEO Warren Buffett The amazing at the meeting of the annual shareholders of the bloc on Saturday, when he said that his successor, Greg Abel, should take over the first place by the end of the year.

Warren Buffett said on Saturday that his scars, Greg Abel, should be held as CEO of Berkshire Hathaway by the year.

During the end of the questions and answers session at the annual meeting of the bloc, the shareholders’ fans were amazed when he said that he would recommend the board of directors at its meeting on Sunday.

“The time when Greg has to become the company’s CEO at the end of the year, and I want to start the directors, effectively, and give it like my recommendation,” said Pavite 94.

He explained that after his proposal to the Board of Directors on Sunday, the directors will meet again within a few months and take measures.

“I think they will believe unanimously, and this means that at the end of the year, Greg will be the CEO of Berkshire, and I was still sticking and I could be useful in a few cases.”

He added that Abel, 62, did not know that he would issue the bomb’s announcement, and that the council was also not, except for his children, Suzi and Handard.

While Puffett said he intends to be ready to be useful, he stressed that ABEL will be the CEO and have the last word, including operations and capital spread.

“I will play with Ouija’s painting or anything in terms of doing things,” said Buffett, adding that he will not sell any shares in Berkchire Hathaway and reaffirm his plan to gradually abandon them.

Berkshire Hathaway under Buffett

The lack of sale of his shares also does not represent his confidence in ABEL, according to Buffett, who said he believed the horizons of Berkshire will be better under him.

After this announcement, he said: “This is the news hook for today, thanks for his arrival,” and he got a long applause from the audience.

Buffett became the CEO in 1970 after his investment partnership acquired Berkshire, then the textile company, in 1965. During that time, he became a creative investor, with a legions of followers who follow the movements and invest, and gained the title of “Oracle of Omaha”.

He is also the fifth richest person in the world, with a net value of $ 169 billion, according to the Bloomberg billionaires. The market cover at Berkshire 1 trillion dollars is at the top of the shares, while the group of sprawling companies includes companies such as the Insurance Company GEICO, the giant BNSF, and the fast food dairy chain.

From 1965 to 2024, the Berkshire Hathaway stocks boasted with an annual growth rate of 20 %, which greatly exceeds the pace of S&P 500 by 10 % during that period.

Puffett’s decision to step down after the death of his right leg and his commercial partner for a long time, Charlie Monage, in November 2023.

Pavite will continue to work as the head of Purcashire until his death. After that, he said that his son Howard would take over.

Who is Greg Abel?

Abel grew up in Edmonton, Canada, where his mother was a housewife sometimes multiplied as a legal assistant and his father sold fire extinguishers.

“Sometimes people had jobs, and sometimes they did not,” he remembered in an interview with the Horatio Alger Association. “But with your family and good friends, you have the opportunity to dream.”

ABEL graduated from Alberta University in 1984 and worked for Pricewaterosecoopers and Calenergy Power Company. In 1992, he joined Midamerican Energy, who took over Berkshire in 1999 and eventually became Berkshire Hathaway Energy, then became her president in 2008.

Then it was clarified responsible for the unlimited companies of comprehensive blocs. It was confirmed as a Bavite caliph in 2021.

In an e -mail message to wealth “I couldn’t feel better towards Greg. But I no longer had interviews. In 94 years, Bridge was not the only activity that slowed me. I still enjoy a lot and I can do some things reasonably well. But other activities have been eliminated to a minimum,” Sean Tolo said earlier this year.

On Friday, Soo Decker, the main director of the CNBC -Abel, told the Board of Directors and that he was taking a major role in leadership.

She said: “Last year, the Board of Directors, Greg Warne, really moved, of a kind of preparation for success to practice it already.” “Greg participated in the decisions to allocate the capital, and I know that he got the confidence of the council and Warran in that.”

“We don’t really see it as an executive chief waiting, as he takes over the ability of leadership at the present time,” she added.

This story was originally shown on Fortune.com

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2025-05-03 19:55:00