Warren Buffett receives standing ovation after announcing he will ask board to make Abel CEO

Even as he signals the end of an era, Warren Buffett’s humor remains intact. Buffett announced on Saturday he will ask Berkshire Hathaways ’s board to make greg Abel CEO of the conglomerate by year-end, leading to a standing ovation from the crowd and Abel. Soon after, Buffett joked: “The enthusiasm shown by that response can be interpreted two ways.”