Warren Buffett has announced he will step down as CEO of Berkshire Hathaway at the end of the year, naming Vice-Chairman Greg Abel as his successor.
The 94-year-old investment guru, known as the Oracle of Omaha, revealed the decision at the company’s annual meeting in Nebraska, surprising even Abel, who was apparently unaware of the timing.
Buffett built Berkshire into a $1.16 trillion conglomerate with holdings in major firms like Apple and Coca-Cola.
