Warren Buffett to remain the Chairman of the Berkshire Hathaway, Greg Abel, to become the CEO at the end of the year, the votes of the Board of Directors

the Berkshire Hathaway On Sunday, the council voted to make the president and executive director of Greg ABEL on January 1, 2026 and for Orange Pavite, 94, to remain president. Fast Becky.

Pavite Shocked Berkshire and Abel shareholders through the announcement in the last minutes of the annual shareholder meeting on Saturday that he will ask the Board of Directors to be replaced as an executive chairman at the end of the year with the Vice President of the current insurance operations for Burkshire.

Puffett, the chairman and CEO, did not explain this at that time whether this means that he would also give up the title of the president, although he said he would hang out to help where he could. Pavite explained that the last word in the company’s operations and the deployment of capital will be with ABEL, 62, when this transition occurs.

However, with the chairman Pavite remain, shareholders may feel comfortable because “Oracle Omaha” will remain to help with any great acquisition opportunities that may arise in possible volatile markets as Buffett in 1965 took over more than 347 billion dollars in cash.

“I may be useful, in some respects, if we face periods of great opportunities or anything,” Pavit said on Saturday.

Berkshire shares decreased to only 1 % in pre -market trading, even after Pavit said that he would eventually step down as an executive president and as the company stated to some extent. Disappointing During the weekend. Berkshire also warned of uncertainty in his view that the definitions could bring.

Berkshire’s shares closed in Friday with a market value of more than 1.1 trillion dollars, cutting the last stock market.

ABEL has been the CEO of Bavate since 2021.