Berkshire’s Warren Buffett to retire, asks board to replace him with Greg Abel

An end of an era was announced in Oma Saturday like Warren Buffett said as soon as I ask the board of Berkshire Hathaway Have Greg Abel replaces it as CEO by the end of the year.

While Buffett is 94 and Abel designed as CEO success in 2021, he came in a surprise to the mile of the admirals gathered for this year Annual meeting Back to hear the legend invest the opinion in the company’s future.

“Tomorrow, we have a berkshire counselor consretors, that he came on the day, it’s gone to news, but I guess you are getting used to you as the news of the meeting of the meeting.

Buffts, who is making a cement of the former shipment of the 1965, he said is always’ attracting and AA capital delivery of serious seat with serioticent of major.

“Can be used, believe that, safely in some respects, if we understood in periods of a great opportunity or something of” addition.

Buffett, who owns over $ 160 billion in Berkshire as its biggest bag, you didn’t win a single part of the store after this new phase.

“I am added, the decision to keep each part is a economic decision, which he believes the dead prospects and prospects of walking for four hours surprise for their age.

Buffett and Abel told CNBC Quick becky After the drive meeting that the pair of discussed to Sunday Council that buffett role will be formally next year. Buffett is currently a president of the conglomerate.

So it’s unclear, still assuming the president’s present. Buffet told the Wall Street Journal Before this year that the Son HOWIE BUNDETTMENTS defend a presidentity after her death to preserve the compagnition culture. It is not clear if this moves impact this decision.

“I’m surprised, but my businesses me,” said Ronson’s Director of Barkshire, after meeting the meeting Saturday. “I am very anxious to see war to become the Charlie Monger for the Greg Abel.”

After the surprise announcement that apparently abel I didn’t even know, the meeting is over with a buffetting ovation for the buffett.

This is breaking of the news. Please check back for updates.

-What report from Lisa Kailai Han and Fred Imbert