Warren Buffett He has spent the last 60 years of his historic race in the Berkshire Hathaway helmet. On Saturday, he announced his mandate when Ceo was coming to an end.
The 94 -year -old investment legend made the duration of the company’s annual shareholders meeting in Omaha, Nebraska. Buffett confirmed that Greg Abel, seen for a long time as his probable successor, is expected to assume CEO’s role once he leaves.
“It feels like the right time for Greg to take the leadership of the company at the end of this year,” said Buffett.
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Buffett revealed that, apart from his children, the rest of the Berkshire board, including Abel, had not been informed in advance. He admitted that the announcement was a surprise equally for them. “Greg doesn’t know that I’m saying this right now,” Buffett told the audience.
While he will renounce the high executive role, Buffett indicated that he will continue to be aviaxable in an advice capacity when necessary.
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Buffett’s game marks the end of a transformative era. Under his leadership, Berkshire Hathaway evolved from a textile manufacturer with difficulties to one of the largest and most diverse conglomerates in the United States.
Buffet personally is worth almost $ 170b, according to Bloomberg, and is Berkshire Hathaway’s largest shareholder.
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