Welcome to Seeking Alpha's Wall Street brunch, our Sunday look ahead to this week's

market-moving events, along with the weekend's top news and analysis.

Hello, today is Sunday, and may the fourth be with you. It's the end of the Warren Buffett era.

Berkshire Hathaway's top boss said at the

company's annual shareholders meeting that he will ask the board to replace him as CEO with his

already chosen successor Greg Abel at the end of the year. Though the actual succession wasn't a surprise,

the timing of it was. According to Buffett, only two of the company's 11 directors, his children, Howard and Susan,

were aware of his plans. Buffett added that Abel was also hearing of this for the first time.

The time has arrived where Greg should become the chief executive officer of the company at

year end, Buffett said. It has been almost 60 years since Buffett won control of Berkshire

on May 10, 1965. Abel emerged as the frontrunner for taking since Buffett won control of Berkshire on May 10, 1965.

Able emerged as the frontrunner for taking over Buffett's job back in 2021.

Buffett said a board meeting on Sunday would kickstart the process before the directors.

Let them have the time to think about what questions or what structures or anything they want,

and then in the meeting following that, which will come in a few months,

we'll take action on whatever view is of the 11 directors.

I think they'll be unanimously in favor of it, and that would mean at the year-end, Greg would be

the chief executive officer of Berkshire, he had it.

As per Buffett, Abel would have the final word on operations, capital allocation, and acquisitions.

He would be the chief executive, period.

Moreover, Buffett said he had no intention, zero, of selling one share of Berkshire Hathaway.

Catherine Seaford, analyst at CFRA, says, this was probably a very tough decision for him,

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