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Warren Buffett announces he is stepping down from Berkshire Hathaway leaving audience stunned
In a shocking move, billionaire investor Warren Buffett has announced his decision to step down as Chief Executive at Berkshire Hathaway. The announcement was made during the company’s annual shareholder meeting in Omaha, Nebraska.
According to reports, Buffett, 94, revealed that he will recommend to Berkshire Hathaway’s board that Greg Abel take over as CEO at the end of the year. Abel, who is currently the CEO and chairman of the conglomerate, was reportedly caught off guard by the announcement, with even his own children unaware of the decision.
While it may have come as a surprise to many, Buffett assured investors that he will still be involved with the company in some capacity. “I will hang around,” he said, suggesting he would continue to offer guidance and support to Abel as CEO.
The Oracle of Omaha’s decision has left audiences stunned, with many expressing shock and disbelief on social media platforms. Many have taken to Twitter to speculate about the motivations behind his sudden departure.
“Warren Buffett stepping down from Berkshire Hathaway? This changes everything,” tweeted one user.
Another added, “Who would have thought Warren Buffett would step down? The world is going crazy!”
It remains to be seen how this move will impact the company’s performance and future direction.
Source: https://www.dailymail.co.uk/yourmoney/article-14675661/Warren-Buffett-berkshire-hathaway-standing-down.html?ns_mchannel=rss&ito=1490&ns_campaign=1490
