End of an era: Warren Buffett will ask Berkshire board to replace him as CEO with Greg Abel
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Buffett to Step Down as Berkshire Hathaway CEO by End of 2025
Above: Berkshire Hathaway signage at the annual shareholders meeting in Omaha, May 3, 2025. Image copyright: Dan Brouillette/Bloomberg via Getty Images
The Spin
Narrative A
Buffett's retirement marks the end of an extraordinary era in American capitalism. His patient, value-oriented investments created unprecedented shareholder value over six decades, turning a failing textile company into one of the world's most valuable businesses. The smooth succession plan demonstrates Buffett's foresight, ensuring Berkshire's unique culture and investment approach will continue under Abel's leadership.
Narrative B
Buffett's departure raises significant questions about Berkshire's future direction and performance. The company already faces declining earnings in a growingly volatile market, and Abel lacks Buffett's iconic status and proven track record in capital allocation decisions. Without Buffett, Berkshire may struggle to find the transformative investments needed to maintain its historical growth rates in an increasingly competitive landscape.