Warren Buffett to Step Down as Berkshire Hathaway CEO

Warren Buffett Announces Succession Plan for Berkshire Hathaway

Renowned investor Warren Buffett revealed today his intention to propose Greg Abel as his successor as CEO of Berkshire Hathaway, with the transition slated for the conclusion of 2025.

Buffett stated, following the company’s annual shareholder meeting and prior to Sunday’s board session, that he believes the appropriate moment has arrived for Abel to assume the role of chief executive officer.

Buffett's Continued Involvement

Despite stepping down from the CEO position, Buffett, aged 94, indicated his desire to remain involved with the company in some capacity. Discussions regarding his future formal role are scheduled to take place during Sunday’s board meeting, as confirmed by both Buffett and Abel in a CNBC interview.

Abel, who currently serves as Berkshire Hathaway’s vice chairman overseeing non-insurance businesses, had been previously designated as Buffett’s chosen successor. However, a specific timeline for the handover had not been publicly disclosed until now.

Berkshire Hathaway's Investment in Technology

Although Berkshire Hathaway’s investment strategy encompasses a diverse range of sectors, the technology industry represents a significant portion of its portfolio.

Even after a partial divestment of its Apple holdings in the previous year, the company’s stake in Apple still constitutes over 20% of its total portfolio value.

Apple remains a cornerstone investment for Berkshire Hathaway.

Key Takeaways

• Greg Abel will become CEO of Berkshire Hathaway at the end of 2025.
• Warren Buffett will continue to be involved with the company after stepping down.
• Berkshire Hathaway maintains a substantial investment in the technology sector, particularly Apple.