Warren Buffett, Berkshire Hathway is preparing for a new CEO

Warren Buffett’s Berkshire Hathway is getting ready for change in leadership.

The investment group located in Omaha wrote in a new regulatory filing that its board had voted to formally separate the roles of Chairman and Chief Executive Officer earlier this week, immediately effective, effective, Per CNBC,

Buffett is the CEO and Chairman of Berkshire Hathaway since 1970.

Connected: Warren Buffett says forget 10,000 hours of practice – if you want to do something, do it instead

In May, 95 -year -old Buffett announced at Berkshire’s annual shareholder meeting that he would step as a CEO on January 1, 2026, and would nominate Greg Abel as his successor.

Abel, 63, 2018 is the vice-president of Berkshire for non-settlement operation from 2018. Buffett will keep the title of Executive Chairman.

Berkshire is the number 11 most valuable company in the world, press time, with A market cap Of $ 1.081 trillion.

Buffett also ranks eleventh, individually, in the list of world’s richest people, with total assets of $ 149 billion, Bloomberg Billion Ayers IndexMost of his fate is associated with his stake in Berkshire.

Earlier this week, Buffett led Berkshire’s biggest deal in three years, and possibly as CEO to buy a petrochemical unit within its final, oxicam, oxidantl petroleum, for $ 9.7 billion.

Connected:

Warren Buffett made 95% of his assets after the age of 65. Here the age of retirement in his total assets has increased.