Warren Buffett, 94, Steps Down as Berkshire Hathaway CEO, Greg Abel to Succeed

Warren Buffett, at 94 years old, announced his decision to step down as CEO of Berkshire Hathaway, attributing the move primarily to the effects of aging, including losing balance, vision problems, and difficulty recalling names. Despite feeling mentally sharp and remaining chairman, Buffett acknowledged that his energy and effectiveness in managing the company have declined compared to his successor, Greg Abel, who will become CEO in 2026. Buffett praised Abel's talent and energy, noting the stark difference in what each could accomplish in a workday, and expressed confidence that Berkshire Hathaway will benefit from Abel's leadership. The transition marks the end of Buffett's remarkable 60-year tenure, during which he transformed Berkshire from a struggling textile company into a $1.2 trillion conglomerate. Buffett emphasized that there was no single moment he decided to step down, but rather a gradual realization of aging's irreversible impact. He remains committed to contributing particularly during market downturns, leveraging his experience and calm approach to investment decisions.