From Pymnts · PYMNTS · · 1m 20s
Warren Buffett hands Berkshire to his son Howard
The legendary investor steps back as chairman emeritus while Greg Abel runs the company and Howard Buffett guards its culture.
In brief
The legendary investor steps back as chairman emeritus while Greg Abel runs the company and Howard Buffett guards its culture. Warren Buffett transitioned to chairman emeritus on September 18, 2026, with his son Howard becoming chairman and Greg Abel continuing as CEO under a succession plan executed over 16 months…
Buffett steps back at 96
Warren Buffett became chairman emeritus of Berkshire Hathaway on September 18, 2026, citing his recent 96th birthday and confidence in Greg Abel's performance as CEO.
“Father Time has given me the opportunity to see Berkshire reach a point where I am more confident than ever about what lies ahead.”
Howard Buffett takes the chair
Howard Buffett, Warren's son and a Berkshire director since 1993, was elected chairman by the board. He has led the Howard G. Buffett Foundation since 1999.
Abel runs operations, Howard guards culture
Greg Abel continues as CEO running the company, while Howard Buffett's role is to preserve Berkshire's culture and values. Warren said both are worth more than the balance sheet.
“Greg runs the company; Howard will guard its culture and values, both worth more than anything on our balance sheet.”
Succession plan took 16 months
Berkshire announced in May 2025 that Abel would become president and CEO on January 1, 2026. Warren remained chairman until this week's transition to emeritus status.
Buffett stays on the board
Warren Buffett remains a member of Berkshire's board of directors despite stepping down as chairman. He will continue to contribute to the company's direction.
What to remember
Warren Buffett transitioned to chairman emeritus on September 18, 2026, with his son Howard becoming chairman and Greg Abel continuing as CEO under a succession plan executed over 16 months.
