BitMine stock falls after CEO change and board appointments
Investing.com -- Warren Buffett will release a letter to his three children and Berkshire Hathaway shareholders on November 10, according to the Wall Street Journal, which cited information from Buffett’s assistant.
The 95-year-old Buffett is stepping down as chief executive at the end of the year but will remain chairman of the conglomerate. Greg Abel, 63, a Berkshire vice chairman who has been taking on more responsibilities, will become the new CEO.
Abel will write Berkshire’s annual shareholder letter in February after assuming the chief executive role. He has been handling additional duties since Buffett announced the management change at Berkshire’s May 3 annual meeting.
For next year’s annual meeting, Buffett plans to sit in the audience with other directors rather than on stage, marking another shift in his public role at the company.
The content of Buffett’s upcoming November 10 letter remains unclear. In similar letters issued in November 2023 and November 2024, he discussed estate planning, expressed gratitude for opportunities provided by the United States, and announced donations to four family charities.
Howard Buffett, one of Warren’s three children alongside Susie and Peter, is expected to eventually become non-executive chairman at Berkshire.
Berkshire Hathaway did not immediately respond to requests for comment on Friday. The Omaha, Nebraska-based company is scheduled to release its third-quarter financial results on Saturday.
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