Warren Buffett Steps Down as Berkshire Hathaway Chairman

Warren Buffett has stepped down as chairman of Berkshire Hathaway, completing a planned leadership transition at the conglomerate he built into one of the world's most valuable companies. The 96-year-old investor will become chairman emeritus immediately and remain a member of the board of directors, the company announced on Friday, September 18. His son, Howard G. Buffett, a board director since 1993, has been elected the new chairman. Greg Abel, who succeeded Warren Buffett as chief executive on January 1, 2026, remains the CEO responsible for running the company's operations and capital allocation. Susan L. Decker will continue as the lead independent director. In a letter to shareholders, Warren Buffett stated that the timing was right to finish the transition. "Serving as your Chairman has been the privilege of a lifetime, and I have never taken your trust for granted," he wrote. "Father Time always wins. He has, however, been generous with me." Buffett has been associated with Berkshire since 1965 and served as chairman since 1970. He transformed a struggling textile firm into a holding company with insurance, railroads, energy, manufacturing, and retail businesses.