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Warren Buffett to Hand Over 8 Berkshire Hathaway Companies to Greg Abel as CEO
ByAinvest
Monday, May 5, 2025 5:17 pm ET1min read
Warren Buffett will retire as Berkshire Hathaway's CEO at the end of 2025 and hand over the reins to Greg Abel, who has been the vice chairman of Berkshire's non-insurance companies since 2018. Abel will oversee eight major companies, including Dairy Queen, Fruit of the Loom, Berkshire Hathaway Energy, NetJets, and more. Buffett will remain board chair.
Warren Buffett, the legendary investor and CEO of Berkshire Hathaway for over six decades, has announced his intention to retire from the position at the end of 2025. The 94-year-old investor will step down as CEO but will remain as chairman of the board. Buffett's successor will be Greg Abel, who has been serving as the vice chairman of Berkshire Hathaway's non-insurance businesses since 2018.Abel, 62, will oversee a vast portfolio of companies, including Dairy Queen, Fruit of the Loom, Berkshire Hathaway Energy, and NetJets. Buffett's decision to step down comes after a long and illustrious tenure, during which he transformed Berkshire Hathaway into a massive conglomerate with investments in various sectors, including insurance, energy, and transportation [1].
The transition is set to be smooth, with Buffett planning to remain involved in the company. He has stated that he will not sell any shares and believes that Berkshire Hathaway will thrive under Abel's leadership. The two will discuss Buffett's future role at the company during an upcoming board meeting [2].
Berkshire Hathaway's significant stakes in major companies like Apple, Coca-Cola, Bank of America, American Express, and Chevron are expected to remain under Abel's management. The company's substantial investment in Apple, valued at nearly $70 billion by the end of September 2024, highlights the importance of the transition [2].
This change in leadership marks a significant milestone for Berkshire Hathaway, as the company continues to navigate its future under new guidance. The financial community is closely watching the transition, with investors and analysts alike assessing the potential impact on the company's performance and stock value.
References:
[1] https://www.fox13news.com/news/warren-buffett-berkshire-hathaway-retiring-ceo
[2] https://www.fxleaders.com/news/2025/05/03/warren-buffett-resigns-from-berkshire-hathaway/
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