Warren Buffett to stay as Berkshire chairperson; Greg Abel to become CEO next year

Berkshire Hathaway's board on Monday said Warren Buffett, 94, will remain the chairman but he will step down as CEO of Berkshire Hathaway by the end of 2025. "On May 4, 2026, Berkshire's Board of Directors voted unanimously to appoint Greg Abel to become Berkshire's President and CEO effective on January 1, 2026. Warren Buffett will remain the Chairman of the Board of Directors," the American company based in Omaha stated in a release.

At 62, Abel, currently vice chairman at the $1.18 trillion conglomerate, is expected to carry forward Buffett's long-term investment philosophy and aversion to shareholder dividends, even if he doesn't inherit his predecessor's iconic public image.

On Saturday, at Berkshire's annual shareholder meeting in Omaha, Buffett, said, "It's working way better with Greg Abel than with me, because I don't want to work as hard as he works."

When asked about his management approach to Berkshire's wide array of subsidiaries, Abel answered, "More active." He also credited his mentor, saying, "Warren has obviously been a remarkable teacher, and I have benefited from that for years."

Buffett's knack for buying undervalued companies is legendary. He loaded up on Coca-Cola, American Express, and Bank of America during their rough patches, pocketing billions in gains and dividends. His 2016 pivot to tech with Apple — initially a $31 billion bet — ballooned to over $174 billion, redefining his "I don't do tech" philosophy.

Then came BYD (Build Your Dreams), the Chinese EV maker Buffett backed on Charlie Munger's advice in 2008. It turned $232 million into over $9 billion at its peak.

Last checked, Bershire shares were up 1.80 per cent at Rs 539.80. At this value, the stock has climbed 19.66 per cent in the calendar year 2025 so far.