The 94 -year -old billionaire Hathaway’s Berkshire for 60 years. (Credit: X / Hiddensmsinves and X / Drparsasalehi)
Warren Buffett He said on Saturday that he intends to step down by the end of this year as CEO of Hathaway.
The name of the investor is billionaire Greg AbelWho is a vice president, as a substitute.
“I think the time has arrived as Greg should become the company’s CEO at the end of the year,” Pavit said at the annual meeting of Burkechire.
ABEL, 62, has been a vice president since 2018 when he joined the company.
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Berkshire Hathaway, CEO Warren Buffett (Daniel Zushnik / Skimim / Getty Emoz)
Buffett, 94, said that he “will be silent” in the group, according to CNBC.
He said he has no plans to sell his shares in Berkshire Hathaway, Who is expected to be donated after his death.
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“I would like to add this, the decision to maintain every share is an economic decision because I believe that Berkshire’s possibilities will be better under the management of Greg than Lee.”
After issuing his announcement, the investor received a period of several minutes in honor of his service contracts.
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Buffett was preparing for ABEL to be his successor for years, as he told CNBC in 2021, “The directors agree that if something happens to me tonight, it would be Greg that will take over tomorrow morning.”
Buffett acquired Berkshire Hathaway in 1965 with the business partner Charlie MongerAnd that was at the time a failed fabric company. Monger died in 2023.
The value of the group is now more than one trillion dollars.
Reuters contributed to this report.
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