It's perhaps one of the greatest examples of "big shoes to fill" in the history of American business. Current Berkshire Hathaway ( BRK.A -1.59%) ( BRK.B -1.68%) Vice Chairman Greg Abel was officially announced as Warren Buffett's replacement as CEO of the company.

It was announced over the weekend that Warren Buffett will step down as CEO of Berkshire Hathaway (BRK-B, BRK-A) at the end of 2025, handing the role to vice chairman Greg Abel. Buffett, 94, has led the company since 1970 and is worth nearly $169 billion,

Warren Buffett says Greg Abel didn’t need to be taught how to lead Berkshire Hathaway. “He’s a natural,” Buffett said of Berkshire’s next chief executive in an [interview with The Wall Street Journal]