It\u2019s hard to replace a GOAT \u2014 just ask the New England Patriots.<\/p>\n
Berkshire Hathaway (BRK-A<\/a>) investors may be experiencing something similar in the wake of Warren Buffett’s departure as CEO.<\/p>\n Did you know: Shares of A-class Berkshire Hathaway have severely underperformed the S&P 500 (^GSPC<\/a>) since Buffett, 95, announced his retirement in May 2025. The stock is down 10% over that stretch, compared to 32% gain for the S&P 500.<\/p>\n Buffett announced on May 3, 2025 \u2014 at Berkshire Hathaway’s annual meeting in Omaha, Neb. \u2014 that he planned to retire as CEO at the end of the year and hand the reins to insider Greg Abel.<\/p>\n The announcement came as a complete surprise at the end of Buffett\u2019s typical five-hour Q&A session with Berkshire shareholders. He said the only board members who knew it was coming were his two children, Howard and Susie Buffett.<\/p>\n Buffett officially stepped down as Berkshire\u2019s CEO on Jan. 1, 2026. He remains chairman of the board.<\/p>\n The latest Berkshire gathering: The most recent Berkshire annual meeting marked the start of a new era, as it was the first time in six decades that Buffett was not the undisputed centerpiece on stage.<\/p>\n The Oracle of Omaha took a seat in the front row of the audience, a highly symbolic decision meant to provide a visible, living endorsement of the transition to Abel, who led from the stage.<\/p>\n The event kept its traditional lighthearted spirit, kicking off with a sports-inspired ceremony where Abel \u201cretired\u201d a jersey bearing the number 60 to honor Buffett\u2019s six-decade tenure. They also aired a funny, cautionary deepfake video of an AI-generated Buffett asking Abel why investors should hold Berkshire\u2019s stock long term.<\/p>\n Investors and analysts widely praised Abel\u2019s debut performance as operationally sound, though very different from Buffett\u2019s signature folksy charm.<\/p>\n Bottom line: It\u2019s going to take more time for Berkshire investors to warm up to Abel as CEO. It doesn\u2019t mean he is doing a bad job as CEO. It just means he isn\u2019t a Buffett-like GOAT \u2014 yet.<\/p>\n Brian Sozzi<\/a> is Yahoo Finance’s Executive Editor and a member of Yahoo Finance’s editorial leadership team. Follow Sozzi on X @BrianSozzi<\/a>, Instagram<\/a>, and LinkedIn<\/a>. Tips on stories? Email brian.sozzi@yahoofinance.com.<\/p>\n Click here for in-depth analysis of the latest stock market news and events moving stock prices<\/a><\/p>\n Read the latest financial and business news from Yahoo Finance<\/a><\/p>\n