Overview

• Warren Buffett, 94, announced he will step down as Berkshire Hathaway CEO by December 31, 2025, citing irreversible physical effects of aging such as balance issues and vision decline.
• The Berkshire Hathaway board unanimously approved Greg Abel, 62, as the next CEO, effective January 1, 2026, recognizing his proven leadership of non-insurance operations.
• Buffett emphasized that his decision was driven by fairness to Abel, whose energy and effectiveness have outpaced his own in recent years.
• Buffett will remain chairman of the board and continue to provide strategic guidance, especially during market downturns, leveraging his decades of investment expertise.
• The announcement comes as Berkshire Hathaway shares trade near record highs, with the company valued at approximately $1.2 trillion.