On May 3, 2025, at the Berkshire Hathaway annual shareholder meeting, 94-year-old Warren Buffett announced plans to step down as CEO by the end of the year and recommended current Vice Chairman Greg Abel to succeed him.

Buffett stated that the reason for this decision was the realization of his advanced age, with signs of physical aging such as occasional loss of balance, declining memory, and blurred vision, and that his work pace differed from the energetic Abel.

Currently, the Berkshire board has unanimously voted to appoint Abel as President and CEO, effective January 1, 2026. Buffett will continue to serve as the company's Executive Chairman, providing strategic guidance, and he has committed not to sell his Berkshire stock and may gradually donate it.

Buffett has led Berkshire since 1965, transforming it from a textile company into a nearly $1.2 trillion corporate group, creating a miracle of over 55,000 times market value growth and an annualized return of 19.9%. His departure marks the end of an era, although analysts believe Abel's succession will continue Buffett's investment philosophy while potentially bringing new perspectives to the company.