Warren Buffett, 94, shocked shareholders by announcing he will retire as Berkshire Hathaway CEO at the end of 2025.
One of the world’s most respected businessmen, Warren Buffett, has announced that he will step down as the CEO of Berkshire Hathaway at the end of 2025. This decision marks the end of an incredible 55-year journey leading the company. At 94 years old, Buffett is the longest-serving CEO of any S&P 500 company, and his leadership has made Berkshire Hathaway one of the most successful businesses in the world.
Buffett shared this big news during the company’s annual shareholder meeting, surprising the large audience of over 40,000 people. Many investors, fans, and even celebrities like Apple CEO Tim Cook and Hillary Clinton were present. Buffett’s retirement announcement was followed by loud cheers and a standing ovation from the crowd, especially when he mentioned who would take over the company.
He revealed that he will recommend Greg Abel, the Vice Chairman of Berkshire Hathaway, as his successor. Buffett kept the mood light with a joke, saying, “The enthusiasm shown by that response can be interpreted two ways. But I will take it as good,” making the crowd laugh and applaud again.
He ended the meeting with another humorous comment: “I not only hope that you come next year, but I hope I come next year,” showing his usual charm and wit.
Buffett did not explain why he chose to retire now, especially since he had always said he had no plans to step down. But many believe it was a well-thought-out decision to ensure the company stays in good hands after him.
With Greg Abel expected to take over, investors are now looking ahead to a new chapter in Berkshire Hathaway’s history, while remembering and appreciating Warren Buffett’s legendary contribution.
Source link
[ad_3]
[ad_4]