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Fortune

Eleanor Pringle

Warren Buffett says he's handing over Berkshire Hathaway to Greg Abel after stark realization

Warren Buffett Greg Abel Berkshire Berkshire Hathaway

Warren Buffett, CEO of Berkshire Hathaway, speaks to the press as he arrives at the 2019 annual shareholders meeting in Omaha, Nebraska, May 4, 2019. (Credit: JOHANNES EISELE/AFP - Getty Images)

At 94, Warren Buffett announced he will step down as CEO of Berkshire Hathaway, emphasizing his strong support for successor Greg Abel, whom he praised for his energy, effectiveness, and leadership. Buffett called it "unfair" to hold Abel back any longer, reaffirming his confidence in Abel's ability while pledging to remain involved and continue supporting the company’s future.

At the age of 94, Warren Buffett said he finally began slowing down.

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