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Warren Buffett, the world’s most well-known investor, said he plans to step down from the helm of the vast conglomerate Berkshire Hathaway, a financial juggernaut built over the past 60 years.
The 94-year-old, widely known as the “Omaha Oracle” — said Greg Abel would suggest taking over as Berkshire’s CEO at the end of this year.
“It’s time for Greg to become the company’s chief executive at the end of the year, and I want to get that advice from the supervisor,” he said.
Abel, who Buffett previously named his ultimate successor, is the vice-chairman of Berkshire’s non-insurance business.
This is a developing story. . .
