Warren Buffett Plans Transition of CEO Role to Greg Abel by Year-End

Warren Buffett announced at Berkshire Hathaway’s annual shareholder meeting that he will step down as CEO at the end of the year, recommending Greg Abel as his successor pending board approval. Buffett emphasized that Abel would have full authority as CEO, though Buffett may remain involved in certain situations, especially during times of market or national stress. Abel, who currently oversees Berkshire’s non-insurance businesses, has long been considered Buffett’s heir apparent and is recognized for his steady leadership. During the meeting, Buffett also cautioned against using tariffs as economic weapons, arguing that balanced trade is beneficial for global prosperity and warning that tariffs could negatively impact both the U.S. and Berkshire’s outlook. He urged investors to remain patient and disciplined, noting that change is constant in the markets and that emotions should not drive investment decisions. Buffett’s succession plan and views on trade reflect his ongoing influence and the company’s commitment to stability during transition.