Warren Buffett Retires as Berkshire Hathaway CEO
Legendary investor Warren Buffett, the “Oracle of Omaha,” has officially stepped down as CEO of Berkshire Hathaway at age 95.
Over six decades, Buffett transformed the once-struggling textile company into one of the world’s largest and most influential corporations, News.Az reports, citing foreign media.
Wednesday marked the first day under Buffett’s longtime deputy and handpicked successor, Greg Abel.
In a letter to shareholders last November, Buffett praised Abel, writing: “He is a great manager, a tireless worker and an honest communicator. Wish him an extended tenure.”
Together with his longtime business partner and close friend, the late investor Charlie Munger, Buffett transformed Berkshire Hathaway into a global powerhouse.
Today, the massive conglomerate owns businesses ranging from insurance companies and railroads to Dairy Queen and Duracell batteries. It's also a powerful investor in many large public companies, including Apple, Coca-Cola and American Express.
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