Legendary investor Warren Buffett has announced his decision to step down as Chairman of Berkshire Hathaway, effective immediately. The 96-year-old 'Oracle of Omaha' will transition to the role of Chairman Emeritus, concluding a remarkable tenure of over 60 years at the helm of the conglomerate.
In a letter addressed to shareholders on September 18, 2026, Buffett confirmed that his son, Howard Buffett, a Berkshire director since 1993, will succeed him as Chairman. Greg Abel, who has been with Berkshire Hathaway for years, will continue in his role as Chief Executive Officer, a position he has held with increasing responsibility.
A Legacy Spanning Six Decades
Warren Buffett took the reins of Berkshire Hathaway in 1965, transforming it from a struggling textile manufacturer into one of the world's largest and most diversified conglomerates. Under his leadership, the company amassed a vast portfolio spanning insurance, investments, utilities, energy, transportation, manufacturing, services, and retail.
In his letter, Buffett expressed profound confidence in the company's future leadership. He lauded Greg Abel, stating, “My expectations for him were sky high from the start, and he has exceeded them. He has taken hold of the Chief Executive Officer job in every respect.” Buffett noted that Abel has been making critical decisions for some time, allowing him to step back with assurance.
Howard Buffett to Guard Company Culture
While Greg Abel will continue to manage the day-to-day operations and strategic direction as CEO, Howard Buffett's role as Chairman will focus on safeguarding Berkshire Hathaway’s unique culture and values. Warren Buffett emphasized this distinction, stating, “Greg runs the company; Howard will guard its culture and values – both worth more than anything on our balance sheet.”
Howard Buffett has served on Berkshire’s Board of Directors for 33 years, a longer apprenticeship, as his father noted, than his own before taking charge at age 34. The elder Buffett underscored his son's dedication, describing him as “a policy the shareholders own and hope never to claim against.”
Gratitude and Future Confidence
Reflecting on his time, Warren Buffett called serving as Chairman “the privilege of a lifetime,” assuring shareholders that he never took their trust for granted. Despite Father Time winning, he expressed gratitude for the opportunity to witness Berkshire Hathaway reach a point where he is more confident than ever about its future. He affirmed his intention to remain a shareholder alongside them.
Berkshire Hathaway's Class A and Class B shares are listed on the New York Stock Exchange under the ticker symbols BRK.A and BRK.B, respectively, and continue to be closely watched by investors globally.