Berkshire Hathaway’s board unanimously approved Greg Abel as president and CEO effective January 1st, 2026, according to CNBC. The company confirmed that 94-year-old Warren Buffett will remain chairman. With Buffett staying on as chairman, shareholders may find reassurance in his continued guidance on major acquisitions during volatile markets, as Berkshire holds over $347 billion in cash. Berkshire shares fell about 2% in premarket trading after Buffett announced he would step down as CEO and the company posted disappointing earnings. Shares closed at a record high on Friday with a market value exceeding $1.1 trillion, outperforming the broader market.
