Warren buffett to leave Berkshire Hathaway after six decades

Unlock Free

Roula Khalaf, publisher of the FT, selects her favorite stories in this weekly newsletter.

Warren Buffett, the world’s most famous investor, said he was planning to abandon the rudder of his conglomerate that Berkshire Hathaway, a financial juggler he has built over the last six decades.

The 94 -year -old, known as the “Oracle of Omaha”, said that Greg Abel would have to take over as CEO of Berkshire at the end of this year.

“The time has come when Greg should become the CEO of the company at the end of the year, and I want to make it to the directors and get this recommendation,” he said.

Abel, whom Buffett had previously appointed his eventual successor, is Vice President of Berkshire’s non -insurance operations.

This is a development story. . .