Abel Greg to Become Berkshire Hathaway’s CEO as Warren Buffett is Stepping Down

Berkshire Hathaway announced at the annual meeting in Omaha that Warren Buffet is stepping down as CEO. He will stay as chairman after Vice Chairman Greg Label takes over the position.

However, Buffett’s retirement was shocking for everyone as he is the man behind the company’s success. Warren Buffett started working with Berkshire when it was just a struggling textile mill, on May 10, after a dispute with management. With time, he transformed Berkshire into one of the largest and most popular companies with 189 flourishing businesses, which include Geico insurance, the BNSF railroad, Dairy Queen, and See’s Candies. He also amassed a large stock portfolio includes Apple. Berkshire’s stock prices show the success of Buffett.

Berkshire’s board of directors will approve Abel’s CEO position on January 1st, 2026. Abel and other board members do not know about Buffett’s retirement, and confirmation of his appointment as a Chairman has yet to come on Monday, but everyone wants Warren Buffett to stay in the company as a mentor and guide in important decisions.