Greg Abel to Lead Berkshire Hathaway into a New Era

Greg Abel will succeed Warren Buffett as CEO of Berkshire Hathaway starting next year. Buffett will remain chairman of the board. The decision signals a major leadership transition after Buffett's six-decade tenure, surprising the board and shareholders alike.

Greg Abel has been announced as the successor to Warren Buffett as CEO of Berkshire Hathaway, beginning next year. This decision marks a significant shift in leadership at the conglomerate.

After six decades, Warren Buffett is set to step down as CEO, confirmed alongside his continued role as chairman of the board. The unexpected announcement took place over the weekend.

The majority of the board of directors, along with Abel, were unaware of Buffett's intentions until recently, indicating an unexpected transition was on the horizon.

(With inputs from agencies.)