Buffett hands over Berkshire CEO role to Greg Abel, says the company can outlive 'any' rival for 100 years

Buffett stays on as chairman, calls Abel the “decider” — and signals a lower-profile future.

• Warren Buffett steps down as Berkshire Hathaway CEO, Greg Abel takes over.
• Buffett remains chairman but will have a quieter, less public role.
• Buffett endorses Abel's leadership and says Berkshire's culture will continue.

Did our AI summary help?

Warren Buffett has formally handed over the CEO reins of Berkshire Hathaway to longtime heir-apparent Greg Abel, saying the conglomerate is “better positioned than any company” to endure over the long term, and predicting it has a stronger chance of being around in 100 years than any rival he can think of, CNBC reported.

In a special interview with CNBC’s Becky Quick, parts of which aired Friday, Buffett offered an emphatic, personal endorsement of Abel’s judgment and temperament, and made clear that day-to-day decision-making now sits with his successor.

What changed and what didn’t

Buffett is no longer CEO. He officially relinquished the role to Abel on Thursday, ending a six-decade run that transformed Berkshire from a struggling textile mill into a trillion-dollar conglomerate spanning insurance, railroads and consumer businesses, CNBC reported.

Buffett remains chairman. He signaled he will still show up to work, but expects a quieter, less public role.

Buffett’s strongest message: Abel has the keys

Buffett told CNBC that “Greg will be the decider,” and went further: he said he would rather have Abel “handling my money” than top investment advisers or CEOs in the US.

That line isn’t just praise, it’s Buffett addressing the market’s biggest fear: whether Berkshire’s culture and capital allocation discipline survive without him making the final call.

Why investors have been nervous

CNBC added that Berkshire shares lagged after Buffett first announced plans to retire in May, as investors questioned whether Abel could manage a sprawling mix of operating companies alongside Berkshire’s giant equity portfolio, and still command a premium valuation.

Buffett’s counterargument is essentially: Berkshire isn’t a one-man act anymore, and Abel is built for this.

The 'normal life' pitch

Buffett also tried to disarm the mythology factor. He described Abel as a grounded leader who lives a regular life, far from celebrity, the kind of executive who plays ice hockey with his kids and doesn’t seek the spotlight.

That’s a deliberate continuity signal: Berkshire under Abel won’t try to become a louder, flashier company. It will try to be Berkshire.

A symbolic shift: Buffett won’t speak at the annual meeting

In another notable change, Buffett said he will not take the stage at Berkshire’s annual shareholder meeting this year, a break from a decades-long tradition that drew tens of thousands to Omaha.

He told CNBC that “everything will be the same,” but he’ll be seated in the directors’ section instead of holding court on stage, the clearest sign yet that the Abel era has begun.