WASHINGTON: By the end of the year, renowned billionaire investor Warren Buffett plans to step down as CEO of Berkshire Hathaway. Greg Abel has been suggested by him to succeed him as chief executive.
Because of his success and his ability to communicate his ideas in concise, straightforward terms, Buffett has gained a lot of influence in the business and financial sectors and is known as “The Oracle of Omaha.”
Buffett had already stated in a news interview a number of years prior that Abel, who is 62, would be his choice for successor.
Buffett, 94, stated during an annual shareholder meeting in Omaha, the Midwestern city where Berkshire Hathaway is headquartered, “The time has arrived where Greg should become the chief executive officer of the company at year end.”
