Warren Buffett will remain chairman of Berkshire Hathaway after stepping down as chief executive at the end of the year, the company’s board of directors announced on May 5, after unanimously approving Vice Chairman Greg Abel as CEO effective Jan. 1, 2026.
The board’s announcement formalizes the long-anticipated transition, with Abel set to lead the $900 billion conglomerate while Buffett, now 94, continues as chairman, maintaining a guiding role at the company he has led for more than six decades.
The move comes two days after Buffett stunned thousands of shareholders by announcing his retirement during Berkshire Hathaway’s annual meeting in Omaha, Nebraska….