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Berkshire confirms Abel as CEO, Buffett to remain chairman
Business Standard
|May 06, 2025
Warren Buffett will stay on as chairman of Berkshire Hathaway after Vice Chairman Greg Abel takes over as chief executive officer, the conglomerate said on Monday.
Berkshire shares fell as much as 6.8 percent in Monday trading, after the 94-year-old Buffett announced on Saturday that he would step down as CEO, ending six decades at the helm for the legendary investor.
Although Abel's expected ascension had been known for four years, the announcement at Berkshire's annual meeting in Omaha, Nebraska, was a surprise.
It overshadowed Berkshire's first-quarter results, where insurance losses tied to wildfires caused operating profit to fall short of analyst forecasts.
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