Warren Buffett shocks shareholders by announcing his intention to retire

Warren Buffett announced his intention to resign from Berkshire Hathaway at the end of the year (Nati Harnik/PA)

Warren Buffett shocked an arena full of his shareholders on Saturday by announcing that he wants to retire at the end of the year.

Mr Buffett said he will recommend to Berkshire Hathaway’s board that Greg Abel should become chief executive at the end of the year.