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Warren Buffett to Step Down as Berkshire Hathaway CEO
Legendary investor Warren Buffett announced today that he will be stepping down as the CEO of Berkshire Hathaway at the end of 2025. In a surprise move, Buffett revealed his intention to ask the board of directors to replace him with Greg Abel, who is currently the vice chairman for non-insurance operations.
During an annual shareholder meeting earlier today, Buffett expressed his desire to transition into a new role within the company. He stated that he believes it is time for Abel to take over as CEO and will continue to be involved in the company in some capacity after stepping down.
Buffett’s decision comes as no surprise, given his advanced age of 94 years old. However, the timing of this announcement has taken many investors by surprise, particularly given Berkshire Hathaway’s significant investments in technology companies.
It is worth noting that Buffett had previously identified Abel as his successor but did not specify a timeline for the transition. Despite this, the decision to step down at the end of 2025 marks an important milestone for both parties involved.
In recent years, Berkshire Hathaway has made several large investments in the tech industry, including significant stakes in companies like Apple. These investments now account for more than 20% of the company’s portfolio.
As Buffett prepares to step down from his role as CEO, he will continue to be an important figure within the organization.
Source: https://techcrunch.com/2025/05/03/warren-buffett-will-step-down-as-berkshire-hathaway-ceo/
