- In 94, Warren Buffett announced that he would step down as CEO Berkshire Hathawayand Emphasizing his strong support for his successor, Greg Abel, who praised him for his energy, effectiveness and leadership. Buffett described her as “unfair” to return Abel again, reaffirmed his confidence in the ability of Abel while pledging to stay involved and continue to support the company’s future.
At the age of 94, Warren Buffett said he finally started slowing.
The CEO of Berkshire Hathaway shocked the shareholders earlier this month when he announced that he would step down from The best job for the investment giant and delivery of matters for it His back name, Greg Abel.
Puffett now revealed that he decided to step down after he had witnessed it How much his successor can do on a comparative day To take it out.
“I really didn’t start getting older, for a strange reason, until I was about 90,” he told Pavit Wall Street Magazine. “But when you start age … it’s irreversible.”
the ‘Oracle Omaha continued: “The difference in the energy level and how much [Abel] It can be accomplished within 10 hours compared to what I can accomplish within 10 hours-the difference becomes more dramatic.
“It was more effective in accomplishing matters, making changes in management as they were needed, and helping people who needed help somewhere, but only all kinds of roads. It was really fair, not to put Greg in the job.”
Abel was first identified as informal successR by the former right -man of Bavate, Charlie Monger, has a call in 2021 with Berkshire Chairman confirmed the news a few days later.
At the annual shareholders meeting on May 3, Buffett announced that it will step down by the end of the year.
Speaking to a sudden crowd, 94 -year -old Buffett said that ABEL and the Council (Baby Bur, Suzy and Heard) was aware of his intention to leave the position of CEO.
Buffett added that the next step is to propose to move to the painting at the end of the next week, which will then meet within a few months to take action.
“I think they will believe unanimously, and this means that at the end of the year, Greg will be the CEO of Berkshire, and I will continue to hang and I can be useful in a few cases,” Buffett added.
Although the legend of investment supported ABEL – and he promised him to stay in Berkshire – the price of the cluster shares has decreased on the news and is now 4.7 % over the past month.
The man worth 156.6 billion dollars, each ForbesHe is one of Berkshire’s largest shareholders, but he stressed his plans on their gift slowly for charitable endeavors.
Pavite will remain in contact if there is panic in the market
Buffett also pledged to invest in Berkshire, which is seen as a sign of confidence in ABELThrough financial support and Its time.
While he will be reassured as an executive president, Pavite will remain Come to work with a company of 1.08 trillion dollars.
“My health is good, meaning that I feel good every day,” he said Wsj. “I am here in the office and work with people I love, love me well, and we have a good time.”
He added that he could serve as a fixed hand in troubled economic times: “I have no problem making decisions about something I have been making decisions for 20 years, 40 years ago, or 60 years ago.
“I will be useful here if there is panic in the market because I am not afraid when things decrease in the price or everyone is afraid. This is in fact not a job of age.”
He added: “I will not sit at home and watch soap opera. My interests are still the same.”
The Chairman of the Board of Directors added that Abel will supervise the investment strategy in Berkshire while Pavite is still in the company, after his investment segments have proven while overseeing the batch of work in the infrastructure to generate electricity from green sources.
Under the supervision of ABEL, Berkshire is now ranked the largest in winds of wind generation, and the operation of wind farms in Texas, California, and through the Middle West, especially in Iowa.
It is still seen, but it is still seen, however The main question on the lips of the spectators It is how the incoming CEO You may spend a cash stock of approximately $ 350 billion.
“He will have ideas,” Pavit said.
This story was originally shown on Fortune.com
