Warren Buffett Won’t Take Stage at Future Berkshire Hathaway Meetings

Berkshire Hathaway (BRK.B) Chief Executive Officer (CEO) Warren Buffett will not take the stage at the company’s future annual meetings.Buffett announced at this year’s annual meeting, held earlier in May, that he is stepping down as CEO on Dec. 31, 2025, and passing the torch to his handpicked successor Greg Abel. However, Buffett is remaining chair of Berkshire’s board of directors and there had been hope that he would continue the tradition of taking the stage at the annual meeting to answer shareholder questions.Berkshire Hathaway’s annual meeting held in Omaha, Nebraska is not a typical annual meeting. Known as the “Woodstock of Capitalism,” it draws tens of thousands of shareholders from all over the world who attend to hear Buffett answer questions and discuss subjects ranging from the state of the stock market to his investing philosophy.Buffett was known to field questions at the Berkshire annual meeting for hours on end. Now that will no longer be the case. According to media reports, Canadian businessman Greg Abel will take questions from shareholders and pontificate on all things related to Berkshire Hathaway at future meetings.The decision puts Berkshire Hathaway, and its massive cash pile of nearly $350 billion U.S., in the hands of Abel, who previously ran Berkshire’s utility business. The move is likely to be a disappointment to many Berkshire shareholders who were hopeful that Buffett, age 94, would still have a prominent role at the company’s annual gathering.Media reports say Buffett plans to attend the annual meeting but will now sit with other Berkshire board members on the floor, below the podium. Berkshire’s more affordable Class B stock has risen 14% this year to trade at $512.39 U.S. per share.