Buffett announces retirement at the end of the year

PANews reported on May 4 that American investor Warren Buffett announced at Berkshire Hathaway's annual shareholder meeting that he planned to retire at the end of the year, shocking the shareholders present. Buffett said he would recommend Greg Abel, vice chairman of non-insurance business, to the Berkshire Hathaway board of directors, to take over as CEO at the end of the year, saying he believes the time for Greg to be the company's CEO is ripe. According to the Associated Press, Buffett made the announcement after the five-hour question-and-answer session, and did not answer any related questions. Buffett said the only people on the board of directors who knew about it were his two children, Howard Buffett and Suzy Buffett. (Jin Shi)