Warren Buffett has stepped down as chairman of Berkshire Hathaway, handing the board leadership of the $1 trillion conglomerate to his son, Howard G. Buffett, after more than six decades at the helm of the company.
The leadership change took effect on Friday, September 18, 2026, with Berkshire Hathaway naming Buffett chairman emeritus while retaining him as a member of its board. The company said the move follows its long-standing succession plan.
The 96-year-old investor has led Berkshire since 1965 and previously handed over the chief executive role to Greg Abel, who became CEO on January 1, 2026. Abel will continue to oversee the company’s operations, while Howard Buffett assumes responsibility for the board.
Brandspur Banking News Desk reports that Howard Buffett has served as a Berkshire director since 1993, giving him more than three decades of experience on the company’s board before taking over as chairman. The company also retained Susan L. Decker as lead independent director.
The latest transition separates Berkshire’s executive and board leadership, with Abel running the business and Howard Buffett taking over the chairmanship. Warren Buffett will remain involved as a director and continue to provide his perspective to the company.
For investors and businesses that follow Berkshire Hathaway closely, the change marks another major step in the company’s carefully planned leadership transition. Berkshire’s official announcement said Buffett will remain a shareholder and continue to offer his judgment and perspective as chairman emeritus.
Buffett’s departure from the chairmanship closes his formal leadership of Berkshire after more than 60 years, although his continued position on the board means he is not leaving the company entirely.
