Warren Buffett has announced his decision to step down as CEO of Berkshire Hathaway, a position he has held for 55 years. During the annual shareholder meeting in Omaha, Nebraska, Buffett received heartfelt tributes and two standing ovations for his remarkable tenure. At 94, he plans to retire at the end of 2025 and has endorsed Greg Abel, a vice chair of the company, as his successor. The announcement has drawn admiration from leaders worldwide, highlighting Buffett's significant impact on the business landscape and his mentorship of Abel.
The crowd gave Buffett two standing ovations, acknowledging his career as the longest-serving chief executive of an S&P 500 company.
Buffett has remained an enduring force as an investor and businessman for decades.
Tim Cook praised Buffett, stating, 'There's never been someone like Warren,' reflecting on the privilege of knowing him.
Buffett has intended to step down at the end of 2025 and recommended Greg Abel as his successor.
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