Warren Buffett has stepped down as chairman of Berkshire Hathaway, bringing a major chapter in the history of one of the world’s most closely watched companies to a close. The 96-year-old investor will become chairman emeritus, while his son, Howard Buffett, takes over as chairman of the multinational conglomerate.
The leadership change took effect on September 18, 2026, and represents another important stage in Berkshire Hathaway’s carefully planned succession process. Buffett will remain a member of the company’s board of directors, allowing him to continue providing his experience and perspective even after relinquishing the chairmanship.
Howard Buffett, who has served as a Berkshire Hathaway director since 1993, has been appointed to succeed his father as chairman. His new responsibilities are expected to focus heavily on protecting the company’s longstanding culture and values, while Greg Abel continues to oversee the business as chief executive officer.
The distinction between the chairman and CEO roles is particularly significant in Berkshire’s new leadership structure. Abel assumed the CEO position at the beginning of 2026 after Buffett stepped down from that role. In his shareholder letter announcing the latest transition, Buffett said Abel had taken control of the CEO responsibilities and had exceeded his expectations.
Under the new arrangement, Abel will be responsible for running Berkshire Hathaway, while Howard Buffett is expected to serve as a guardian of the company’s culture and principles. Buffett himself described the division of responsibilities in his letter to shareholders, emphasizing the importance of maintaining the values that have shaped Berkshire over several decades.
Buffett’s departure from the chairmanship marks the end of more than five decades in the position. He became Berkshire Hathaway’s chairman in 1970, having taken control of the company in 1965. During his tenure, Berkshire evolved from a struggling textile manufacturer into a vast conglomerate with major interests across insurance, energy, transportation, manufacturing and other industries.
His approach to business was built around long-term investment, financial discipline and the acquisition of companies capable of generating lasting value. That philosophy helped make Berkshire one of the most recognizable names in global finance and turned Buffett into one of the world’s best-known investors.
For shareholders, the latest transition therefore carries significance beyond a change in title. Berkshire is moving into a leadership structure in which Buffett’s direct executive role has ended, while his influence remains through his board position and the principles he established.
In his September 18 letter, Buffett acknowledged the role of time in his decision, while expressing confidence in Berkshire’s future. He said he would remain a shareholder and continue watching the company alongside other investors.
The succession now places Berkshire Hathaway under a new generation of leadership while retaining links to the management philosophy that defined much of its modern history. With Howard Buffett as chairman and Greg Abel as CEO, the company enters its next phase with Warren Buffett remaining involved as chairman emeritus and director.