Warren Buffett, legendary 94-year-old investor, announced at the annual Berkshire Hathaway shareholders meeting his retirement as CEO by the end of 2025. Buffett expressed his confidence in Greg Abel as his recommended successor, highlighting his outlook on the company's future.
During the meeting, Buffett criticized protectionist trade policies, describing trade as an act of cooperation rather than war. He emphasized the importance of maintaining positive international trade relations and expressed his concerns about global trade tensions.
Greg Abel, current vice president of Berkshire Hathaway, has been designated as Buffett's recommended successor. Abel has held key roles in the company and is expected to take over as CEO at the end of the year.
Buffett emphasized his commitment to retaining all his shares in Berkshire Hathaway and his willingness to collaborate during the transition process. The company has accumulated notable liquidity of $347 billion, primarily due to divestment strategies implemented in the previous year.
Despite the current economic uncertainty, Buffett showed confidence in future investment opportunities and in Greg Abel's leadership. His resignation marks a milestone in the history of Berkshire Hathaway, a company that Buffett has transformed into one of the largest conglomerates in the world.
