
Warren Buffett announced his retirement as CEO at Berkshire Hathaway’s (BRK.B) annual meeting over the weekend. While the suddenness of the announcement surprised many, it did not exactly come out of the blue, as the “Oracle of Omaha” had officially named Greg Abel as successor in 2021.
Once Buffett retires in 2026, he will continue to be the chairman of the board of directors, which will ensure some continuity. Also, Abel has vowed to preserve the culture at Berkshire that Buffett built over many decades.