Warren Buffett to Step Down From Berkshire Hathaway

There were no bells, no whistles, only two cans of Coca-Cola and a box of See’s Candies. “I think the time has arrived,” he said, “where Greg should become the chief executive officer of the company at year-end.”

That’s how Warren Buffett announced his succession plan, in a folksy, offhand way – and for practical reasons – at the end of a five-hour Q-and-A session with shareholders at the Berkshire Hathaway (BRK.B) annual meeting in Omaha on Saturday.