The financial icon Warren Buffett – also known as the Oracle of Omaha – will, according to a board decision, remain as chairman of the parent company Berkshire Hathaway even after the turn of the year, reports CNBC.
The board of Berkshire Hathaway has unanimously voted for Greg Abel as CEO and group CEO as of January 1, 2026, but Warren Buffett will remain as chairman even after the turn of the year, sources tell CNBC.
The decision has been made after Saturday's annual general meeting in Berkshire Hathaway, where Warren Buffett announced that he is handing over the CEO job to Greg Abel.
Warren Buffett was born in Omaha in 1930 and is considered one of the richest people in the world. He is known for his relative frugality and has promised to give away almost his entire fortune to charitable causes.
Greg Abel, 62, from Canada, is one of the top names and has been identified by Buffett as his successor for several years.
Berkshire Hathaway is one of the largest shareholders in the US, with significant holdings in, among others, Bank of America and Apple in the portfolio.
