End of an Era: Buffett Steps Down from Berkshire

• Buffett to Step Down as CEO by Year-End After 60 Years of Leadership at Berkshire

• Greg Abel to Become CEO in 2026 as Buffett Remains Chairman for Strategic Oversight

  
  

By Kenzie Aryasatya, Fayza Nawra Avanitanya, Muthia Noor Safitri, Imam Fakhri Prayogo Harianto 

May 9, 2025 at 16:30 GMT+7

Warren Buffett surprised Berkshire Hathaway shareholders at the annual meeting by announcing he would step down as CEO by the end of the year, concluding a legendary 60-year tenure at the helm. The decision, described by Buffett as timely and personal, brings to a close an era in which he transformed a struggling textile mill into a US$860 billion conglomerate. 

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Buffett’s sharp investment instincts and buy-and-hold philosophy earned him global recognition as the "Oracle of Omaha." Even Greg Abel, his designated successor since 2021, was reportedly surprised by the timing of the decision, underlining the weight of the moment.

For many longtime investors and Berkshire followers, the announcement capped off a weekend filled with both nostalgia and uncertainty about what lies ahead.

Warren Buffett speaks during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 3, 2025 | Source: CNBC

While relinquishing the title of CEO, Buffett will remain chairman of Berkshire Hathaway to provide guidance and direction. The move is seen as a vote of confidence by shareholders in one of the most dramatic leadership transitions in American business history. 

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Buffett went out of his way to emphasize his continued involvement in major capital investment and acquisition decisions, dispelling fears of a potential shift in Berkshire's storied conservative investment policy. 

By promising not to sell a single Berkshire share, Buffett reaffirmed his unshakable confidence in the firm's future. Analysts say his continued role as chairman will provide essential continuity, especially as Berkshire navigates its huge portfolio and increasingly complex macroeconomic conditions.

Trading information and logo for Berkshire Hathaway is displayed on a screen on the floor of the New York Stock Exchange (NYSE) | Source: Reuters

Greg Abel, long considered Buffett’s heir apparent, will step into the CEO role starting January 1, 2026, following unanimous board approval. As vice chairman in charge of Berkshire’s non-insurance operations, Abel has spent years building credibility across the company’s vast industrial and utility businesses. 

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Although publicly identified as a successor in 2021, Buffett’s official announcement still came as a surprise to many, signaling the end of a historic leadership era. Abel’s disciplined approach and proven record in capital deployment have earned Buffett’s trust, with the veteran investor stating confidently, “He’s ready to take the wheel.”

Greg Abel is expected to maintain the firm’s decentralized structure, a hallmark of Buffett’s philosophy, reflecting Abel’s own management style of providing strategic oversight while granting operational autonomy to business leaders.

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Source:

BBC

CNBC

Reuters