Warren Buffett announced Saturday that he will retire as Berkshire Hathaway’s (BRK.A) CEO at the end of 2025 and hand the reins to Greg Abel, a transition that’s long been expected given that Buffett publicly named Abel as his successor in 2021.

What is Buffett’s legacy?Start the day smarter. Get all the news you need in your inbox each morning. Buffett took over Berkshire in 1965 with a value approach to investing. Value investing includes focusing on identifying and purchasing stocks that are trading below their perceived intrinsic or fair value.