Warren Buffett said on Saturday that he will step down as CEO of Hathaway at the end of the year, and hand over the assumption to Vice President Greg Abel.
“I think the time has reached where Greg should become the company’s CEO at the end of the year,” said Buffett, 94, at the annual meeting of Burkshire.
He said that Abel was not aware of his plans before the announcement. Puffett also said he had a “zero” intention to sell any of Berkshire’s shares.
Puffett’s decision to step down from great 60 -year -old hats as Berkshire from a failed fabric company turned into a huge group with companies throughout the US economy.
The news was also unexpected, although Pavite said he told his children about his decision.
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