Warren Buffett Steps Down as Berkshire Hathaway Chairman
Buffett will remain a director as Greg Abel keeps running Berkshire and Howard Buffett takes over the board, the company said.
- 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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Warren Buffett announced that he left Berkshire Hathaway’s presidency at the age of 96. His son Howard will take office while Greg Abel remains CEO
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Warren Buffett, 96, leaves the board of directors of his conglomerate and his son Howard has been appointed to succeed him
Warren Buffett steps down as Berkshire chairman, son succeeds | Honolulu Star-Advertiser
Berkshire Hathaway said today that Warren Buffett will step down as chairman and become chairman emeritus, effective immediately, nine months after handing the CEO reins to longtime lieutenant Greg Abel.
Warren Buffett Steps Down As Berkshire Chairman After 56 Years: Who Is Howard Buffett?
Warren Buffett, one of the most famous investors of the world, resigned from his position as chairman of Berkshire Hathaway after more than five decades of leading the corporation. Buffett, who is 96 years old, will continue to be
At the age of 96, Warren Buffett hands over another part of his empire. His son Howard will chair the Board of Directors. However, the legendary investor will not withdraw completely.
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