New Delhi, May 8 -- Warren Buffett, 94, has recently announced that he will step down as the CEO of Berkshire Hathaway at the end of 2025. This will conclude an iconic six decade tenure.

The Berkshire board has unanimously voted to appoint Greg Abel, 62, as President and CEO effective January 1, 2026. Buffett will continue to serve as Chairman of the board, ensuring continuity in leadership and providing much needed guidance to Abel as he transitions into his new role.

Under Buffett and Charlie Munger's leadership, Berkshire Hathaway transformed from a grappling textile firm into a $1.11 trillion conglomerate. Not only this, the company now holds a record setting $347.7 billion in cash reserves. This amount leaves Abel with substantial ...