Investor Warren Buffett will leave the head of his group at the end of the year

Warren Buffett, the revered investor of the 94 -year -old financial circles, announced on Saturday May 3, his intention to leave the head of the Berkshire Hathaway conglomerate at the end of the year, which he has been running for more than 50 years.

“The time has come for Greg [Abel, successeur désigné du milliardaire] to become director general of the company at the end of the year “judged the one nicknamed « l’oracle d’Omaha », during the general assembly of the group. Today Vice-President of Berkshire Hathaway, Greg Abel, 62, was appointed in 2021 to take over.

On Sunday, the Berkshire Hathaway Board of Directors “Will be able to ask me questions” On this decision, continued Mr. Buffett. Its members “Will digest” the ad and will be “Unanimous in favor of this decision”he predicted. The opinion of the board of directors will be made formally “In a few months”. The investor assured that, even if he transmitted the reins to Greg Abel, which would have “The last word”il “Would remain around” et “Could be useful in a few cases”without specifying what his role would consist of.

This announcement, which took place at the end of the general assembly of Berkshire Hathaway, caused a torrent of applause on the part of the shareholders present in Omaha, in Nebraska.

Berkshire Hathaway, an old textile SMEs, has become over the years a gigantic conglomerate under the leadership of Mr. Buffett. The group’s value is today more than $ 1,000 billion. He notably owns the Insurer Geico, the Burlington Northern Santa Fe (BNSF) railway company, the ready-to-wear brand Fruit of the Loom or the Duracell batteries. Berkshire Hathaway also has important participations in several big names like Coca-Cola.