Berkshire Hathaway’s board has unanimously voted to appoint Greg Abel as the company’s next CEO and President, effective January 1, 2026. The announcement came Monday. Earlier in the Annual General Meeting, Warren Buffett surprised shareholders by revealing his succession plan during the closing moments.
Abel, currently vice chairman of non-insurance operations, will take over as CEO, while Buffett will remain as chairman. Though Buffett did not initially clarify if he would step down from both roles, the company confirmed he would continue offering guidance in a non-executive capacity.
Buffett emphasised that Abel would have full authority over company operations and capital deployment once the transition occurs. The move signals a long-anticipated leadership change at the conglomerate, which Buffett has led for six decades.
(More details to follow.)