Warren Buffett to ask board to make Greg Abel CEO of Berkshire Hathaway at year-end

OMAHA, Nebraska — Warren Buffett said helium volition inquire the committee of Berkshire Hathaway to regenerate him arsenic CEO with his already designated successor, Greg Abel, astatine twelvemonth end.

Buffett noted that helium would inactive 'hang around' to help, but the last connection would beryllium with Abel.

The investing fable said astatine the yearly gathering celebrating 60 years of him astatine the helm of Berkshire that helium wouldn't merchantability a azygous share.

"I would adhd this, the determination to support each stock is an economical determination due to the fact that one deliberation the prospects of Berkshire volition beryllium amended nether Greg's absorption than mine," said Buffett.

Buffett and Abel told CNBC's Becky Quick aft the shareholder gathering that the brace would sermon astatine a Sunday committee gathering what Buffett's relation volition beryllium formally. Buffett, 94, is presently CEO and president of the conglomerate.

So it's not wide whether Abel volition besides presume the president role.

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