PANews reported on May 4th that Warren Buffett, an American investor, shocked shareholders by announcing his plan to retire at the end of the year during the Berkshire Hathaway annual shareholders meeting. Buffett stated that he will recommend Greg Abel, the vice chairman of non-insurance businesses, to the Berkshire Hathaway board of directors to take over as CEO at the end of the year, saying he believes Greg is ready to assume the role of company CEO. According to the Associated Press, Buffett made this announcement after a five-hour Q&A session and did not answer any related questions. Buffett said that the only board members aware of this were his two children, Howard Buffett and Susie Buffett. (HT)
