# Buffett steps down as Berkshire chair

> Warren Buffett ends 60-year chair role, passing culture stewardship to son
- Title: Buffett steps down as Berkshire chair · Fortune | Shortify
- Summary: Warren Buffett ends 60-year chair role, passing culture stewardship to son Berkshire shifts capital allocation under new CEO while preserving Buffett's…
- Keywords: warren buffett, berkshire hathaway, howard buffett, greg abel, nfl, capital allocation, culture stewardship, shareholder letter, Buffett, steps, Berkshire, chair
- Source: Fortune — https://fortune.com/2026/09/21/warren-buffett-last-lesson-as-chair-culture-capital-require-different-guardians-cfo
- Author: Sheryl Estrada
- Read time: 1 min
- Topics: warren buffett, berkshire hathaway, howard buffett, greg abel, nfl, capital allocation, culture stewardship, shareholder letter
## Chairmanship transition
Warren Buffett stepped down as Berkshire Hathaway chairman on Sept 18, effective immediately, succeeded by his son Howard G Buffett after 33 years on the board.
## Culture vs operations
Buffett wrote Greg Abel runs the company while Howard guards culture and values, both worth more than anything on the balance sheet.

> Greg runs the company; Howard will guard its culture and values
## Capital allocation shift
Berkshire spent $39.4 billion on equity purchases in first half 2026, more than five times 2025 spending.
## Alphabet investment
Abel added 48.1 million Alphabet shares as part of $10 billion commitment to support AI investments.
## Berkshire's test
The real test is whether Abel can preserve Berkshire's discipline while making capital decisions Buffett might not have chosen.
## New CFO appointments
Todd Garner became Avantor's EVP and CFO effective Sept 21, succeeding interim CFO Steve Eck.
## Middle market shift
U.S. mid-sized companies are shifting from cost-cutting to revenue growth despite inflation and cybersecurity risks.
## Key takeaway

Berkshire shifts capital allocation under new CEO while preserving Buffett's cultural legacy