Warren Buffett Steps Down After Decades at Berkshire Hathaway

Warren Buffett has resigned from his position as the chairman of the Berkshire Hathaway after serving over five decades on the chair of the one of the largest conglomerates in the world. The 96-year-old entrepreneur is now the chairman emeritus but remains a member of the board. Warren’s son, Howard Buffett, has been appointed chairman of the corporation based on the succession plan that had been worked out in previous years. Greg Abel, who became the CEO of Berkshire Hathaway early in 2026, continues to manage the company.

Warren Buffett Assumes New Position at Berkshire Hathaway

Buffett has been chairman of Berkshire Hathaway since 1970 and has been linked to the firm since 1965. Over the years, the leader has turned a New England textile firm into one of the most followed investment conglomerates on the planet.

In his shareholder letter, Buffett said that he is optimistic about the future of the firm and that working at Berkshire has been “an extraordinary professional journey” for him.

As chairman emeritus, Buffett will retain his position as a director but not as a chairman.

Howard Buffett Steps into Chairmanship

Howard Buffett, who is Warren Buffett’s son, will be the next chairman of Berkshire Hathaway Inc. Since 1993, he has been serving on the board of directors of the company.

It is anticipated that his main responsibility will be to preserve the culture and philosophy of Berkshire Hathaway.

As explained by Warren Buffett, Greg Abel will manage the firm, while Howard will ensure the protection of the culture and principles that have been established in Berkshire Hathaway.

Greg Abel Takes Over as CEO

Greg Abel started serving as the CEO of Berkshire Hathaway Inc. from the beginning of 2026 when he took charge of the executive functions handled by Buffett before.

Now, there is a clear distinction between the executive and board level management of the firm.

Legacy of Warren Buffett at Berkshire Hathaway

Under Buffett, Berkshire Hathaway evolved into a diversified corporate empire and a powerhouse in the international financial markets. The firm made it past the $1 trillion mark in 2024, making it one of the earliest non-tech firms to achieve such an accomplishment.

According to the data provided in the report by Berkshire Hathaway, the compounded annual growth rate of Berkshire Hathaway under Buffett was 19.9% against the 10.4% of the S&P 500.

Warren Buffett has also made large contributions from his stock of Berkshire Hathaway to charities, with a total value of about $66 billion having been contributed from 2006 to date.