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Warren Buffett Says He’ll Step Down as Berkshire Hathaway CEO at Year End, Taps Greg Abel as Successor
Warren Buffett told Berkshire Hathaway shareholders Saturday that he will step down as CEO by year's end, and he tapped Greg Abel as his successor.
Buffett broke the news Saturday at the close of Berkshire Hathaway’s hours-long annual shareholders meeting in Omaha, Neb. CNBC live streamed the event, known as “Woodstock for capitalists,” which also includes celebratory activities around the Omaha area and around Berkshire brands such as See’s Candies and Coca-Cola. Buffett noted that only two of Berkshire’s 11 board members — his children Howie and Susie — were aware that he intended to break the news at the meeting.
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