Buffett will remain chairman, but he aims to turn over investing oversight to Greg Abel, the company's vice chairman of non-insurance operations. The board of directors followed up by unanimously voting in favor of the move, paving the way for Abel to take over as of Jan. 1, 2026.

Warren Buffett will step down as Berkshire Hathaway CEO at the end of 2025, paving the way for longtime successor, vice chairman Greg Abel, to take the reins.

Greg Abel, 62, is going to be the next CEO of Berkshire Hathaway. Buffett said he would step down at the end of the year.