Reference Message Network reported on May 4th according to a comprehensive report from Central News Agency of Taiwan on May 3rd based on foreign media. Buffett dropped a bombshell at the annual shareholders' meeting of Berkshire Hathaway held in Omaha, Nebraska, saying that he would recommend the board of directors to have his vice chairman Abel take over as CEO by the end of this year.
He said: "I feel the time has come for Abel to become the company's CEO by the end of this year."
For many years, Abel has been Buffett's designated successor, managing all non-insurance businesses of Berkshire Hathaway. Previously, outsiders speculated that Abel would only take over after Buffett passed away, as Buffett had always said that he had no plans to retire.
Buffett announced this重磅news at the end of the 5-hour Q&A session and did not accept any further questions. He said that only his two children, Howard and Susie, knew about it. Abel, who sat side by side with Buffett on the stage, was not notified beforehand.
Original article: https://www.toutiao.com/article/7500430315664572939/
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