Warren Buffett to remain Berkshire Hathaway chairman, Greg Abel to become CEO at year-end, board votes

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Warren Buffett to remain Berkshire Hathaway chairman, Greg Abel to become CEO at year-end, board votes

Warren Buffett speaks during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 3, 2025.

CNBC

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The Berkshire Hathaway board voted unanimously on Sunday to make Greg Abel president and CEO on January 1, 2026 and for Warren Buffett, 94, to remain as chairman, sources told CNBC’s Becky Quick.

Buffett shocked Berkshire shareholders and Abel by announcing in the final minutes of the annual shareholder meeting Saturday that he would be asking the board to replace him as CEO at year-end with the current vice chairman of non-insurance operations for Berkshire.

Buffett, who currently holds both the chairman and CEO title, did not make it clear whether this would mean he would relinquish the chairman title as well, although he did say he would be hanging around to help where he could. Buffett did make clear that the final word on company operations and capital deployment would be with Abel, 62, when this transition takes place.

However, with Buffett remaining as chairman, shareholders may be comforted that the ‘Oracle of Omaha’ will remain to help Abel with any big acquisition opportunities that may arise in possible volatile markets ahead as the conglomerate Buffett took over in 1965 sits on more than $347 billion in cash.

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