At the end of today’s Berkshire Hathaway annual shareholders meeting at CHI Health Center, Warren Buffett surprisingly announced his retirement. The Oracle of Omaha said he would ask Berkshire’s board of directors at tomorrow’s meeting to make second-on-command Greg Abel the CEO by the end of this year. Buffett said he would still “hang around” presumably as chairman and as an advisor. Abel, who was designated as the CEO successor in 2021, is currently vice chairman of non-insurance.
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