- Berkshire Hathaway CEO Warren Buffett stunned attendees at the conglomerate’s annual shareholder meeting Saturday, when he said his anointed successor Greg Abel should take over the top spot by the end of the year.
Warren Buffett said Saturday that his anointed successor, Greg Abel, should take over as Berkshire Hathaway CEO by the of the year.
During the end of the a question-and-answer session at the conglomerate’s annual meeting, he stunned the audience of shareholders when he said he would make the recommendation to the board of directors at the meeting on Sunday.
“I think they’ll be unanimously in favor of it, and that would mean that at year-end Greg would be the chief executive officer of Berkshire and I would still hang around,” Buffett said.
He added that Abel didn’t know he would announce the bombshell, and that the board didn’t either, except for his children who are directors.
This story was originally featured on Fortune.com
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