Warren Buffett to Recommend Greg Abel as Berkshire CEO Soon

Omaha, Nebraska — Berkshire Hathaway Chairman and CEO Warren Buffett announced during the company’s annual meeting on Saturday that he intends to recommend Greg Abel as the new CEO by the end of the year. Abel, currently Berkshire’s vice chairman of non-insurance operations, was taken by surprise during the announcement, which received a standing ovation from the crowd.

This year’s meeting, referred to as the ‘Woodstock for Capitalists,’ drew thousands of shareholders to Omaha. Buffett, who has led Berkshire for six decades, used the platform to share his views on pressing global issues, including trade policies and recent market volatility, stating, ‘Trade should not be a weapon.’

Buffett expressed confidence in Abel’s preparedness for the CEO role. ‘I think they’ll be unanimously in favor of it,’ Buffett said, forecasting Abel’s official appointment after several meetings with the board of directors. He added that while he would remain involved, Abel would take full charge of operations and capital deployment.

Arkansas Representative French Hill praised the announcement, reflecting on Buffett’s long-running influence. ‘What a happy day!’ Hill told CNBC, highlighting both Buffett’s and Abel’s contributions in preparing shareholders for this transition.

Throughout the meeting, Buffett addressed concerns over the U.S. economy, emphasizing the unsustainable nature of the current budget deficit and the challenges of government efficiency. He criticized the growing trend of tariffs and their impact on trade relations, insisting that the U.S. should focus on free trade.

As the meeting concluded, Buffett reiterated his commitment to Berkshire Hathaway, stating he has no intention of selling any shares in the company. ‘It will get given away gradually,’ he assured the audience, earning enthusiastic applause.

Buffett’s reflections on the U.S. economy included a hopeful perspective on its resilience despite various challenges, asserting that today’s societal issues require attention and solutions. He concluded with insight into capital allocation and maintaining the core values established over the decades at Berkshire.