Warren Buffett steps down as Berkshire Hathaway chairman

Warren Buffett announced on Friday, 18 September 2026, that he has stepped down as chairman of the board at Berkshire Hathaway. He had held the post since 1970. In a letter to shareholders, he named his son Howard Buffett as his successor.

Warren Buffett will now serve as chairman emeritus and will remain on the board of directors. He first took control of Berkshire Hathaway in 1965, when it was a mid-sized textile business, before shutting down the textile operations in 1985 and building the firm into a global conglomerate.

Howard Buffett has been part of the holding company since 1993 and manages his own charitable foundation. Warren Buffett stated in his letter that the time was right to complete the transition and that Howard will preserve the culture and values of the company.

The handover follows the appointment of Greg Abel, who replaced Warren Buffett as chief executive officer earlier this year. Abel, who remains in operational command, noted in a company statement that Howard will serve as the guardian of the culture and values built by Warren.