From Yahoo Finance: 2025-05-05 12:22:00

Warren Buffett will step down as CEO of Berkshire Hathaway at the end of the year, with Greg Abel set to replace him. Shares of the company fell 4.3% today as the news broke. Buffett, 94, has been leading the company for 60 years and will continue as executive chairman to aid in the transition.

The board unanimously voted to accept Abel as president and CEO, with Buffett staying on as executive chairman. Buffett has been preparing Abel as his successor and will assist in major decisions. Despite the drop in shares, Berkshire Hathaway is well-prepared for the transition and market uncertainties.

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Read more at Yahoo Finance: Why Berkshire Hathaway Stock Is Sinking Today