Warren Buffett to step down from Berkshire Hathaway

Six decades at the helm

Patrick Brusnahan
clock • 1 min read

At Berkshire Hathaway’s annual meeting on Saturday (3 May), the “Oracle of Omaha” Warren Buffett revealed he would retire as chief executive.

Buffett also told the company that he would be handing the firm over to vice-chairman Greg Abel. He said: "I think the time has arrived where Greg should become the chief executive of the company at year end." US unemployment rate remains unchanged for April with 177,000 jobs added Abel is currently chair of Berkshire's non-insurance operations and has previously been touted by Buffett as his successor.  According to Buffett, he gave neither Abel nor any other director notice of this announcement. Buffett, with over six decades in the industry, took over Berkshire in 196...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Companies

Natixis IM's Mirova and Thematics AM team up on merger project

Natixis IM's Mirova and Thematics AM team up on merger project

Mirova currently manages €32bn in assets

Patrick Brusnahan
clock 23 May 2025 • 1 min read
AJ Bell AUA speeds past £90bn to break record

AJ Bell AUA speeds past £90bn to break record

Volatility led to heightened activity

Patrick Brusnahan
clock 23 May 2025 • 1 min read
Royal London to take over Dalmore Capital

Royal London to take over Dalmore Capital

£6bn of assets managed by Dalmore

Patrick Brusnahan
clock 22 May 2025 • 1 min read
Trustpilot