Warren Buffett will step down as CEO of Berkshire Hathaway in December, ending an iconic six-decade run that transformed a struggling textile firm into a global powerhouse. In an interview with The Wall Street Journal, the 94-year-old investor said there was 'no magic moment' that led to the decision, but a gradual recognition that his age had begun to limit his energy and effectiveness. Greg Abel, who joined Berkshire in 1999, was named Buffett’s official successor in 2021. Buffett praised Abel’s ability to make decisions, solve problems, and manage people efficiently. He said it would have been unfair not to appoint Greg Abel as CEO, adding that Berkshire will benefit more the longer Abel leads the company. Buffett will remain as chairman with no set timeline to leave that role.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Warren Buffett will step down as CEO of Berkshire Hathaway in December,
00:07ending an iconic six-decade run that transformed a struggling textile firm into a global powerhouse.
00:14In an interview with the Wall Street Journal, the 94-year-old investor said there was no magic
00:19moment that led to the decision, but a gradual recognition that his age had begun to limit his
00:25energy and effectiveness. Greg Abel, who joined Berkshire in 1999, was named Buffett's official
00:32successor in 2021. Buffett praised Abel's ability to make decisions, solve problems, and manage people
00:40efficiently. He said it would have been unfair not to appoint Greg Abel as CEO, adding that Berkshire
00:48will benefit more the longer Abel leads the company. Buffett will remain as chairman with no set
00:55timeline to leave that role. For all things money, visit Benzinga.com slash GSTV.