His intention to leave Berkshire Hathaway’s chief executive at the end of 2025 and … retire today, legendary investor Warren Buffett announced Saturday.

He even said that he would set up the 62 -year -old Greg Eiebel to the Berkshire Hathaway board to become a CEO at the end of the year.

“I think it’s time for Greg to take over the duties of the company’s chief executive at the end of the year,” said 94 -year -old Buffett, surprising the audience of the thousands of shareholders who attended the annual General Assembly of the Company in Omhar.

Greg Abel has been a certain successor to Buffet for years, however, there was always a belief that he would take the reins only after Buffet’s death. Previously, Buffett always said that he did not intend to retire.

During the event, he assured that he would not sell any share.

“I have no intention – zero – to sell a single Berkshire Hathaway share. I will finally donate her, “Buffet said. “The decision to keep every share is an economic decision, because I believe that Berkshire’s prospects will be better under the command of Greg than my own.”

Thousands of investors in the Arena of Omaha applauded Buffett up after his announcement in recognition of the 60 years he has been led by the company.

The question remains whether Ebel will also take over the position of Chairman of the Board of Directors, with the discussions expected to be held at the next meeting of the Board of Directors. on Sunday.

Ebel is highly valued by Berkshire’s directors and Buffett has been praising his business acumen for years. But it will find it difficult to reach Buffett’s legendary performance, and because it does not control 30% of Berkshire’s shares such as Buffett, it will not have such a great deal of maneuvering, many estimate.