The venerated investor of the financial circles Warren Buffett, 94, announced on Saturday, May 3, his intention to go to the head of the Berkshire Hathaway conglomerate, which has been executing for more than 50 years.
Today, the Vice President of the Group, Greg Abel, 62, was appointed in 2021 to assume the position of Warren Buffett. On Sunday, Berkshire Hathaway Board of Directors can ask me questions “about this decision, he assured Warren Buffett. Its members “will digest” the announcement and will be “unanimous in favor of this decision,” he anticipated.
The Board of Directors will be formally represented “in a few months,” according to Warren Buffett.
The investor indicated that even if he transmitted the reins to Greg Abel, who would have “the last word”, he “would remain close” and “could be useful in some cases”, without specifying what his role would consist.
From a SME to a titanic conglomerate
This announcement, which took place at the end of the General Assembly of Berkshire Hathaway, caused a torrent of applause of the shareholders present in the place in Omaha, in Nebraska (center).
Berkshire Hathaway, an old textile SME, has become the years in a gigantic conglomerate under the leadership of Warren Buffet. The group now is worth more than $ 1,000 billion.
Now has the insurance company Geico Today, the Railway Company of Burlington Northern Santa Fe (BNSF), the brand ready to use Fruit of the Loom or Duracell’s batteries. Berkshire Hathaway also has important participations in several big names such as Coca-Cola.
Source: BFM TV
