Warren Buffett says he handing over Berkshire Hathaway reins after realizing how much more Greg Abel could get done in a 10-hour day

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Warren Buffett says he handing over Berkshire Hathaway reins after realizing how much more Greg Abel could get done in a 10-hour day - Fortune

Quick Summary:

Berkshire Hathaway CEO Warren Buffett said it would be "unfair" not to let his successor, Greg Abel, take over the top job at the conglomerate.

Speaking to a stunned crowd, Buffett, now 94, said neither Abel nor the board (bar his two children, Susie and Howard) had been aware of his intention to leave the CEO position.

He continued, he could serve as a steadying hand in turbulent economic times: “I don’t have any trouble making decisions about something that I was making decisions on 20 years ago, or 40 years ago, or 60 years ago.“I will be useful here if there’s a panic in the market because I don’t get fearful when things go down in price or everybody else gets scared. And that really isn’t a function of age.