Warren Buffett Steps Down as Berkshire Hathaway Chairman; Son Howard Takes Over 

Warren Buffett has stepped down as chairman of Berkshire Hathaway, marking another milestone in the leadership transition at the investment conglomerate he transformed over six decades. The company announced on September 18, 2026, that Buffett would become chairman emeritus with immediate effect, while his son, Howard G. Buffett, takes over as chairman of the board.

The 96-year-old investor will continue to serve on Berkshire Hathaway’s board of directors and offer his judgment and perspective, the company said. Greg Abel, who took over as chief executive officer at the beginning of 2026, will continue to lead the company’s operations.

The latest change separates Buffett from the chairmanship he held alongside his role as CEO for much of his tenure, while retaining his presence within the company’s governance structure.

Warren Buffett’s Chairman Emeritus Role: What Changes at Berkshire Hathaway?

Under the new arrangement, Howard G. Buffett, a Berkshire Hathaway director since 1993, will assume the chairmanship. The company said the appointment is consistent with its long-standing succession plan.

In his letter to shareholders, Buffett said Howard would be responsible for safeguarding Berkshire’s culture and values, while Abel would continue running the company.

“Greg runs the company; Howard will guard its culture and values,” Buffett wrote, describing those qualities as worth more than anything on the company’s balance sheet.

Berkshire also confirmed that Susan L. Decker would continue as lead independent director. Buffett’s continued board membership means the transition does not represent a complete departure from the company.

Greg Abel Took Over as Berkshire Hathaway CEO in January 2026

The chairman’s transition follows Buffett’s earlier decision to step down as chief executive.

Buffett announced at Berkshire Hathaway’s annual meeting in May 2025 that Greg Abel would succeed him as CEO. The company’s board subsequently appointed Abel, with the change taking effect on January 1, 2026. Buffett remained chairman at the time.

Abel, a longtime Berkshire executive, now holds the company’s top operational position. The September 2026 announcement completes the separation of the CEO and chairman roles, with Abel overseeing the business and Howard Buffett assuming the chairmanship.

Warren Buffett’s Berkshire Hathaway Legacy: From Textile Company to Investment Giant

Buffett’s departure from the chairmanship marks a major moment for Berkshire Hathaway, which he transformed from a struggling textile manufacturer into a conglomerate with a market value exceeding $1 trillion.

His investment approach, built around long-term ownership, disciplined capital allocation and the acquisition of businesses, made Berkshire one of the most closely followed companies in global finance.

In his shareholder letter, Buffett reflected on his time at the company and expressed confidence in its future under the new leadership.

“Father Time always wins. He has, however, been generous with me,” he wrote, adding that he was confident Berkshire was in good hands and would remain a shareholder.

With Abel leading operations and Howard Buffett taking over as chairman, Berkshire Hathaway enters a new phase of leadership while retaining Warren Buffett’s continued presence as a director and shareholder.