Buffett will step down as CEO of Berkshire Hathaway at the end of the year

At the end of the shareholders' meeting, Buffett suddenly announced that he would step down as chief executive of Berkshire Hathaway at the end of the year, and he would recommend that his successor, Greg Abel, the company's vice-chairperson, become CEO at the end of the year. Buffett said he "will still stay" and help, but the "final decision" will be in Abel's hands. According to Buffett, Abel and other board members had no idea that such a thing would happen. Only Buffett and his children know. Buffett said he has no intention of selling any shares of Berkshire, but will gradually give away. (Global Market Broadcasting)