Warren Buffett to Step Down as Berkshire Hathaway CEO

Omaha, Nebraska - In a landmark announcement at Berkshire Hathaway's annual meeting, Warren Buffett, the renowned investor and philanthropist, declared his intention to step down as Chief Executive Officer. At 94 years old, Buffett, often referred to as the 'Sage of Omaha,' has guided Berkshire Hathaway to become one of the world's most successful companies.

The reins will be handed over to Greg Abel, currently Vice-Chairman of Berkshire Hathaway. Abel's promotion has been anticipated by many in the financial community, and his selection signals a focus on continuity and long-term growth for the company. Buffett expressed his full confidence in Abel's ability to lead Berkshire Hathaway into the future.

While Buffett will no longer serve as CEO, he is expected to remain involved in the company in some capacity. Details regarding his future role are yet to be fully disclosed. The transition marks a new chapter for Berkshire Hathaway, and the financial world will be closely watching how Abel navigates the challenges and opportunities ahead. Berkshire Hathaway's diversified portfolio includes holdings in insurance, energy, transportation, and numerous other sectors.