Warren Buffett has announced his intention to step down as CEO of Berkshire Hathaway by the end of 2025, with Greg Abel designated as his successor. This historic transition marks the end of an era for the US$1.1 trillion conglomerate, opening a new chapter in its storied history. While Buffett’s departure raises natural concerns about Berkshire’s future direction, Abel’s track record and the company’s strong fundamentals suggest a well-prepared transition is underway.
The transition timeline and announcement
The succession plan, years in the making, was formally announced at Berkshire’s annual shareholder meeting on 3 May 2025. Buffett revealed that Greg Abel, currently the vice-chairman overseeing Berkshire’s non-insurance businesses, will take the reins as CEO by year-end. This announcement, though anticipated since Abel was first named successor in 2021, still came as a surprise to Abel himself, who admitted, “I had no idea this was coming.” Buffett’s endorsement of Abel was…
