The 94-year-old investor had previously always said he had no plans to retire.
OMAHA, Neb. — Revered investor Warren Buffett shocked an arena full of his shareholders Saturday by announcing that he wants to retire at the end of the year.
Buffett said he will recommend to Berkshire Hathaway’s board on Sunday that Vice Chairman Greg Abel should replace him.
“I think the time has arrived where Greg should become the chief executive officer of the company at year end,” Buffett said.
Abel has been Buffett’s designated successor for years, and he already manages all of Berkshire’s noninsurance businesses. But it was
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