Summary
Warren Buffett announced he will step down as CEO of Berkshire Hathaway by the end of 2025. In a letter to shareholders, he introduced Greg Abel as the next leader and reflected on his life and work. Buffett plans to stop writing annual reports but will continue to share messages with shareholders.
Key Facts
- Warren Buffett, CEO of Berkshire Hathaway, will retire at the end of 2025.
- He announced Greg Abel will take over as the new CEO.
- Buffett is 95 years old and has led Berkshire Hathaway for about 60 years.
- Going forward, Buffett will not write the annual reports or speak at annual meetings.
- He will continue to communicate with Berkshire shareholders through Thanksgiving messages.
- The letter recalls Buffett's personal experiences and reflections on his long career.
