Outgoing Berkshire Hathaway CEO Warren Buffett will not take the stage at next year's annual meeting, leaving that tradition to successor Greg Abel, CNBC's Becky Quick reported Monday.
The meeting, dubbed the "Woodstock of Capitalism," will still take place in Omaha, Nebraska, and feature questions from shareholders, but Abel will be the executive fielding questions. The change was first reported by the Omaha World Herald on Sunday.
Stream NBC4 newscasts for free right here, right now.
WATCH HEREThe news comes less than one month after Buffett announced at the latest annual meeting earlier in May that he planned to hand over the CEO duties at the end of the year. The move puts the legendary investor's conglomerate, and its cash pile of nearly $350 billion, in the hands of a man with a long track record as a business operator, including leading Berkshire's utility business.
Buffett plans to attend the meeting and sit with other Berkshire directors on the floor, below the podium at the event. The Berkshire board voted to keep Buffett as chairman once he leaves the CEO post.
We have the news you need to know to start your day. Sign up for the First & 4Most morning newsletter — delivered to your inbox daily.
SIGN UP Next year's Berkshire Hathaway meeting will again be streamed exclusively by CNBC.
