Warren Buffett steps down as chairman to herald new era at Berkshire Hathaway
Warren Buffett Resigns As Chairman After More Than 50 Years
Warren Buffett is stepping down as chairman of Berkshire Hathaway, another momentous transition for one of America’s most widely watched firms. On September 18, 2026, Berkshire announced that Buffett had become chairman emeritus and would stay on the company’s board.
Howard G. Buffett, a Berkshire director since 1993 and son of Warren Buffett, has been chosen chairman of the board. The change comes months after Greg Abel was named CEO of Berkshire Hathaway, another key piece of the company’s planned leadership succession.
Warren Buffett Resigns As Chairman After More Than 50 Years
Buffett has held the position of chairman of Berkshire Hathaway since 1970. He acquired leadership of Berkshire in 1965 when it was a floundering textile company, and over the decades turned it into a diversified conglomerate with companies in insurance, railways, energy, manufacturing and retailing among other areas.
Berkshire Hathaway Chairman Warren Buffett, 96, has taken another step back from the day-to-day leadership structure he dominated for decades.
But it’s not a full break from Berkshire Hathaway. Buffett will remain a director and continue to lend his judgement and perspective as chairman emeritus, the business said.
Warren Buffett’s Berkshire Hathaway Leadership Timeline
| Period | Warren Buffett’s role | Key development |
|---|---|---|
| 1965 | Took control of Berkshire | Began transforming the company |
| 1970 | Became chairman | Led Berkshire’s long-term expansion |
| 2025 | Stepped down as CEO | Greg Abel became successor |
| 2026 | Chairman emeritus | Remains on Berkshire’s board |
| September 2026 | Howard Buffett becomes chairman | New board leadership begins |
Howard Buffett Becomes Berkshire Hathaway Chairman
Howard G. Buffett will be chairman of the Berkshire Hathaway board. Unlike the CEO, the chairman is concerned with the board and company governance.
Reuters said that Howard Buffett’s primary role will be to assist maintain the company’s unique culture. Greg Abel, meanwhile, continues as CEO of Berkshire’s operations.
Berkshire’s leadership structure currently divides the duties of chairman and CEO more than it did throughout Warren Buffett’s extended tenure.
| Leader | Current role | Main responsibility |
|---|---|---|
| Warren Buffett | Chairman Emeritus | Board member and strategic perspective |
| Howard G. Buffett | Chairman | Board leadership and corporate culture |
| Greg Abel | CEO | Day-to-day company leadership |
| Ajit Jain | Vice Chairman | Insurance operations |
| Susan L. Decker | Lead Independent Director | Board independence |
The company said Susan L. Decker will continue as lead independent director.
Greg Abel Leads Berkshire Hathaway Into Its Next Chapter
The chairman shift is part of a succession plan that began earlier in 2026 when Greg Abel took over as CEO of Berkshire Hathaway.
Abel has been tabbed as Buffett’s successor for a long time. He joined Berkshire through MidAmerican Energy and later served as vice chairman in charge of the company’s non-insurance businesses. Berkshire’s 2025 filing confirms Abel’s ascension as CEO starting Jan. 1, 2026.
The split of Warren Buffett’s previous CEO and chairman positions puts Abel in charge of running Berkshire and Howard Buffett in the chair of the board.
That opens up a leadership structure where Buffett is still there to tap as a well of experience but not the top officer at the company.
What Will Happen to Berkshire Hathaway After Buffett Leaves?
This change in leadership is not a sign that Berkshire Hathaway is moving away from the ideals that go with Buffett’s management.
Berkshire is a very diverse firm with large businesses including GEICO, BNSF Railway, Berkshire Hathaway Energy and a large number of manufacturing, retail and service enterprises.
So the main question for investors is not just who will take over from Warren Buffett, but how his Berkshire leadership structure will be altered under Greg Abel and Howard Buffett.
Buffett Era vs. New Berkshire Leadership
| Area | Buffett era | New leadership structure |
|---|---|---|
| CEO | Warren Buffett | Greg Abel |
| Board chairman | Warren Buffett | Howard G. Buffett |
| Buffett’s involvement | Chairman and CEO | Chairman emeritus and director |
| Operations | Buffett-led | Abel-led |
| Corporate culture | Buffett’s long-established approach | Howard Buffett tasked with helping preserve it |
| Succession | Combined leadership | Separated chairman and CEO roles |
It’s too soon to know what effect the new structure would have on Berkshire’s long-term investment decisions or company strategy. However, the corporation has been planning for the leadership shift for a number of years.
What does Warren Buffett’s departure mean for investors?
For Berkshire shareholders, Buffett’s exit as chairman is largely a governance and leadership milestone. The move is particularly relevant for investors who follow Berkshire Hathaway stock as his investment strategy has long been tightly tied to Berkshire.
That means Buffett will remain a director, so his association with Berkshire is not ending immediately. He also will continue to provide input, the business added.
The longer-term effect will hinge on Abel’s approach to Berkshire’s companies, capital allocation and acquisitions, and the company’s board’s role in preserving its established corporate culture.
Frequently Asked Questions (FAQ)
- Why did Warren Buffett resign as chairman?
On Sept. 18, 2026, Berkshire Hathaway said it was changing its leadership. Buffett became chairman emeritus and is still on the board, while Howard G. Buffett became chairman.
- Berkshire Hathaway’s new Chairman is who?
New Berkshire Hathaway board chairman named as Howard G. Buffett
- Who is the CEO of Berkshire Hathaway?
Berkshire Hathaway CEO Greg Abel. He assumed office on January 1, 2026.
- Is Warren Buffett Quitting Berkshire Hathaway?
No. Buffett has resigned as chairman but remains a director and chairman emeritus.
- What is Berkshire Hathaway going to do next?
Warren Buffett’s exit as chairman signals a new chapter for Berkshire Hathaway, but it’s a calculated transition, not a sudden break from the past. Buffett remains chairman emeritus and a director, Greg Abel is the CEO, and Howard Buffett is chairman of the board.
The next few years will provide a better picture of how Berkshire evolves under its new leadership structure and how much of Buffett’s long-established methodology remains embedded in the company’s investment and management decisions.
References
- Berkshire Hathaway – Official Announcement September 18, 2026.
- Reuters – Warren Buffett Steps Down As Chairman Of Berkshire
- Associated Press – Buffett will be chairman emeritus, Howard Buffett to become chairman.
- Greg Abel to be CEO – Berkshire Hathaway Annual Report
