Warren Buffett’s farewell letter as Berkshire Hathaway chairman includes a big vote of confidence for Greg Abel
Warren Buffett has stepped down as chairman at Berkshire Hathaway Inc., effectively immediately. Buffett, 96, will become chairman emeritus and remain as a member of the board of directors. His son, Howard Buffett , will take over as chairman of the board after serving as a Berkshire Hathaway director for 33 years. “Serving as your chairman has been the privilege of a lifetime, and I have never…
Warren Buffett has announced his resignation as the chairman of Berkshire Hathaway Inc., taking on the role of chairman emeritus while retaining his position on the board of directors. In a farewell letter to shareholders, Buffett expressed his gratitude for the privilege of serving as chairman and expressed confidence in the company's future under the leadership of Greg Abel.
His son, Howard Buffett, will assume the role of chairman after serving 33 years as a director. Buffett credited Abel for exceeding his high expectations and taking charge of the CEO role, stating that he felt comfortable stepping down as chairman. Abel has already demonstrated his competence by leading a $10 billion investment in Alphabet, Inc., Google's parent company, just five months into his tenure.
This decision from Buffett serves as a strong endorsement of Abel's abilities, marking the beginning of a new chapter in Buffett's long-standing relationship with Berkshire Hathaway.
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