Berkshire board approves Abel as next CEO, Buffett to stay on as chairman- CNBC

Investing.comMay 5, 2025 11:56 AM

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Investing.com -- Berkshire Hathaway’s board has unanimously approved Greg Abel as the company’s next president and CEO, marking the official start of the leadership transition from Warren Buffett, CNBC reported Monday.

Buffett, who has led the conglomerate for six decades, will step down as CEO at the end of the year but remain chairman of the board, according to the report. He will still go to the office on a daily basis.

The announcement follows a surprise disclosure by Buffett during Berkshire’s annual meeting on Saturday, when he told shareholders he planned to hand over the CEO role.

CNBC previously reported that Abel and most members of the board had not been informed of Buffett’s decision ahead of time.

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