Warren Buffett will continue as chairman of Berkshire Hathaway, while Greg Abel is set to take over as CEO at the end of the year, according to board decision.

Sure! Here’s the rewritten content with the specified changes:

The Berkshire Hathaway board voted unanimously on Sunday to make Greg Abel president and CEO on January 1, 2026, and for Warren Buffett, 94, to remain as chairman, the company announced. Buffett surprised Berkshire shareholders and Abel by revealing in the final minutes of the annual shareholder meeting Saturday that he would be asking the board to appoint the current vice chairman of non-insurance operations as his successor at year-end.

Buffett, who currently serves as both chairman and CEO, did not clarify at that time whether he would also give up the chairman title, although he did mention he would continue to assist as needed. He made it clear that the final authority on company operations and capital deployment would lie with Abel, 62, when this transition occurs.

However, with Buffett staying on as chairman, shareholders may find reassurance in knowing that the 'Oracle of Omaha' will be available to support Abel with significant acquisition opportunities that may arise in potentially volatile markets. The conglomerate Buffett has led since 1965 currently holds more than $347 billion in cash. "I could be helpful, I believe, in that in certain respects, if we ran into periods of great opportunity or anything," Buffett stated on Saturday.

Berkshire shares were down only about 2% in premarket trading, even after Buffett announced his intention to eventually step down as CEO and the company reported somewhat disappointing earnings over the weekend. Berkshire also warned about the uncertainty its outlook may face due to potential tariffs. 

Berkshire shares closed at a record on Friday, with a market value of over $1.1 trillion, defying the recent downturn in the stock market. Abel has been identified as the designated CEO successor to Buffett since 2021. The board vote result was first reported by Hotnchill news early Monday.