Berkshire Hathaway shares experience a dip following Buffett's unexpected revelation.
Warren Buffett's Retirement: Who's Stepping Up as CEO at Berkshire Hathaway
Warren Buffett, the legendary investor behind Berkshire Hathaway (NYSE: BRK.B), made waves last Saturday by announcing his plans to hang up his CEO hat, with the powerhouse corporation set to see a shift in leadership at the end of the year. The big question on everyone's mind is, who's taking the reins?
It turns out Greg Abel is the man for the job. Abel, who's been groomed for this role since 2021 [1][2], currently commands Berkshire Hathaway Energy (formerly MidAmerican Energy) and has exhibited a penchant for decisive leadership – a trait Buffett himself admires, likening Abel to his late partner, Charlie Munger [1][4].
This handover was confirmed during Berkshire Hathaway's 2025 annual shareholder meeting, with Abel set to assume the CEO position as Buffett steps down. The transition, however, won't mark an abrupt departure for Buffett, who plans to stay on as chairman of the board and work to preserve the company's culture and ensure a seamless transition [1][2][3][4].
Buffett has been paving the way for this transition for some time now, making sure shareholders are well-informed and comfortable with the change. He's been vocal about his advanced age and the need for succession, consistently praising Abel's abilities and reassuring investors about the company's continued stability and success under new management [1][4].
In fact, Buffett intends for Abel to start penning the annual letters, signaling a clear shift in responsibility. He's also assembled a formidable leadership team to support the company and carry on Berkshire Hathaway's legacy, including Ajit Jain, Todd Combs, Ted Weschler, and his son, Howard Buffett [1].
In a nutshell, Warren Buffett's succession plan sees Greg Abel stepping into the CEO role by the end of the year, with Buffett remaining as chairman to guide the transition and maintain Berkshire Hathaway's distinct culture. This plan, which has been in the works for years, is designed to ensure Berkshire's future remains solid, even as the gravel-voiced investor takes a step back [1][2][3][4].
Greg Abel, Berkshire Hathaway's chosen successor, is set to take over as CEO by the end of the year, following Warren Buffett's announcement to step down from the role. As part of the transition, Buffett will remain as the chairman of the board, ensuring a smooth transition and maintaining Berkshire Hathaway's distinctive culture, while Abel takes on the primary responsibilities of running the business and investing the company's funds.
