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According to a report from BiJieWang, on May 4, American investor Warren Buffett announced at the Berkshire Hathaway annual shareholder meeting that he plans to retire by the end of the year, shocking the shareholders present. Buffett stated that he would recommend Greg Abel, the vice chairman of non-insurance operations, to the Berkshire Hathaway board of directors to succeed him as CEO by the end of the year, saying he believes the timing is right for Greg to take on the role of CEO. According to the Associated Press, Buffett made this announcement after a five-hour Q&A session and did not answer any related questions. Buffett mentioned that the only board members who were aware of this were his two children, Howard Buffett and Susie Buffett.