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Berkshire Hathaway formally separated the roles of chairman and chief executive officer, a long-anticipated move that paves the way for Greg Abel to succeed Warren Buffett as CEO at the beginning of 2026.

In a new regulatory filing, the Omaha-based conglomerate said its board voted on Sept. 30 to amend its bylaws to distinguish the two top roles, effective immediately. Buffett, who has run Berkshire since 1965, will remain chairman of the board, while Abel, currently vice chairman for non-insurance operations, will take over as CEO on Jan. 1, 2026.

The move was first announced by the 95-year-old Buffett at the end of Berkshire's annual shareholder meeting in May, which took many by surprise. Shortly after

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