Warren Buffett Steps Down as Berkshire Hathaway Chairman
- On Friday, Warren Buffett announced he is stepping down as chairman of Berkshire Hathaway, with his son Howard Buffett replacing him as chairman while Buffett becomes chairman emeritus and remains a director.
- This transition follows a long-standing succession plan, occurring nine months after Greg Abel took over as CEO, with Buffett defining his son's role as "Think of Howard as a policy the shareholders own and hope never to claim against."
- Under Buffett's tenure since 1965, the firm transformed from a failed New England textiles mill into a $1 trillion conglomerate with $44.5 billion in operating earnings and nearly 400,000 employees.
- Berkshire shares have risen just 1% in 2026 while the broader market rallied more than 11%, prompting Abel to step up share repurchases to $4.5 billion in the second quarter.
- Buffett, 96, emphasized confidence in the company's future, writing "The company is in excellent hands, and I look forward to remaining a shareholder alongside you," while continuing to work at the office five days a week.
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When Buffett, 96, announced last year that he would step down as CEO of Berkshire Hathaway, he was said to remain chairman of the board until his death. On Friday, it was announced that his son would continue as chairman.
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TalouselämäBerkshire Hathaway announced Friday that Warren Buffett is stepping down as chairman of the conglomerate and will become chairman emeritus immediately. Earlier this year, Buffett stepped down as CEO and handed over the reins to longtime associate Greg Abel.
American businessman Warren Buffet (Warren Buffet, 96) is stepping down after 50 years as president of the American financial transnational conglomerate "Berkshire Hathaway" (Berkshire Hathaway), whose market value is more than 1,000 billion dollars, the company announced today.
A 96-year-old investor, Warren Buffett, left the board of directors of Berkshire Hathaway, reporting to The New York Times.
Your son Howard will take the front of the corporate holding
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