Reported 2 days ago
Warren Buffett announced he will step down as CEO of Berkshire Hathaway at the end of this year, recommending Greg Abel as his successor during the company's annual meeting. Abel, currently vice chairman overseeing non-insurance businesses, has been seen as Buffett's successor since 2021. Despite transitioning roles, Buffett plans to remain involved in some capacities but emphasized that final decisions will rest with Abel. Berkshire Hathaway reported a drop in operating profit but its cash reserves grew to a record $347.7 billion.
Source: YAHOO