Warren Buffett will step down as Berkshire Hathaway CEO

Legendary investor Warren Buffett today announced that he would ask Berkshire Hathaway Board to replace Greg Abel as CEO in late 2021.

“I think the time has arrived where Greg should be the chief executive officer of the company at the end of the year,” Buffett said at the end of the annual shareholder of the company Meeting, before its board meeting on Sunday.

At the same time, 94 -year -old Buffett said he would “walk around” in some power. He and Abell told the CNBC that they would use the Sunday Board meeting to discuss what Buffett’s formal role would be after the resignation.

Was the buffet Abell marked previously -Currently, as the Vice Chairman of the Operation Operation Operations of Berkshire Hathaway, as his successor, but he did not say when Abell would take responsibility.

Although technology is one of the many fields where buffet and Berkshire have invested hathway, it is a big bet on the industry. Even after Half of the Apple stock is being sold Last year, the company represents More than 20% of its portfolioThe