Lates News

On May 3, local time in the United States, Warren Buffett, a well-known American investor, shocked shareholders at the Berkshire Hathaway annual shareholder meeting by announcing his plans to retire by the end of the year. Buffett stated that he will recommend the Vice Chairman of non-insurance operations at Berkshire Hathaway, Greg Abel, to take over as CEO at the end of the year, as he believes the time is right for Greg to become the company's chief executive. Abel has been Buffett's designated successor for many years, but it was previously believed that he would only take over after Buffett's passing. The 94-year-old Buffett had previously stated that he had no plans to retire. (CCTV News)