Warren Buffett announces decision to resign as CEO, suggesting Greg Abel

Warren Buffett Retirement Announcement 2025: This is the end of the era of numerous market participants around the world, and it is the legendary investor, Warren Buffett, 94, announced Saturday that he decided to resign as CEO of Berkshire Hathaway, who controlled a company in 1965. Buffett said he will announce the next announcement of Greg Abel as the Secters of 202 bugh of the Endersepon of Dipers of Dive of Dive25.

Many investors around the world were surprised as they tracked the updates of the annual Berkshire conference, which was followed by not only conglomerates or Wall Street investors, but also closely followed investors in the rest of the world.

Berkshire Annual Meeting 2025 | Warren Buffett announces retirement

Buffett's retirement announcement comes after sixty years of leadership at a company, leading the transformation of textile manufacturers into one of the world's most powerful conglomerates.

The news was presented in a Q&A session at the annual conference, which lasted nearly five hours at its headquarters in Omaha, Nebraska.

“I think it's time…”: What did Warren Buffett say when he announced his retirement

“I think it's time for Greg to be the CEO at the end of the year,” Buffett said. Abel sat on the stage.

This is what the legendary investor said at the conference:

• The decision to retain each part is an economic decision
• I think Berkshire's prospects are better than mine under Greg's management

Who is Greg Abel who will replace Warren Buffett as CEO of Berkshire?

Abel currently serves as vice chairman of Berkshire Hathaway.

He oversees the company's non-insurance business.

Abel has been regarded as Buffett's heir for years.

With a highly anticipated transition later this year, Abel will have full control over Berkshire.

Also read: Warren Buffett

What Greg Abel said at Berkshire 2025 conference

About an hour later, about an hour later, Abel came on stage and said, “Just want to say that I am not too humble to be a member of Berkshire as we move forward.”

How Warren Buffett thinks of Donald Trump's tariff announcement

Earlier in the meeting, Buffett accused trade tariffs of increasing instability in the United States.

“It seems to me that when you have 7.5 billion people who like you very much, it's a big mistake,” Buffett said.

He added: “You have 300 million people who are shocked by their situation.”

His remarks came after the 90-day pause of the 47th U.S. president announced a “countdown” tariff on most trading partners on April 9.

However, China is excluded from this tariff suspension. In fact, the United States has raised tariffs on goods from the world's second largest economy to 125%.

Meanwhile, official data released last week showed that the U.S. economic contract was 0.3% in the March quarter, in sharp contrast to the 2.4% expansion in the past three months.

Also Read: Trump Tariff Turbulence: U.S. GDP signed 0.3% in the first quarter as bulls stare at trade uncertainty