By Adam Clark
Berkshire Hathaway stock was set to fall on Monday after Warren Buffett revealed his plans to step down as the company's chief executive at year-end and hand the reins to handpicked successor, Greg Abel.
Berkshire's Class B shares were down 2.5% at $526.43 in premarket trading.
Buffett surprised shareholders with the announcement toward the end of the company's annual meeting on Saturday.
The relatively small move for the departure of the legendary investor likely reflects both signaling around the preparation for the move -- Abel has been the designated successor for several years and already heads Berkshire's non-insurance operations -- and Buffett's reiteration that he has no intention of selling his stock, which is valued at more than $160 billion.
Write to Adam Clark at adam.clark@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
May 05, 2025 05:25 ET (09:25 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.

