# Warren Buffett steps down as Berkshire chairman

> The 96-year-old billionaire hands the role to his son Howard after six decades leading the conglomerate.
- Title: Warren Buffett steps down as Berkshire chairman · CBS News
- Summary: The 96-year-old billionaire hands the role to his son Howard after six decades leading the conglomerate. Warren Buffett, 96, is stepping down as Berkshire…
- Keywords: warren buffett, berkshire hathaway, howard buffett, greg abel, succession plan, chairman transition, news, Warren, Buffett, steps, Berkshire, chairman
- Source: CBS News — https://cbsnews.com/news/warren-buffett-stepping-aside-berkshire-hathaway-chairman
- Author: Brian  Dakss
- Published: 2026-09-18T15:57:15+00:00
- Read time: 1 min
- Topics: warren buffett, berkshire hathaway, howard buffett, greg abel, succession plan, chairman transition, news
## Buffett steps down as chairman
Warren Buffett, 96, announced Friday he is stepping aside as Berkshire Hathaway chairman. He will become chairman emeritus and remain on the board of directors.
## Son Howard takes the role
Howard Buffett, Warren's son, will become Berkshire's new chairman under a longstanding successor plan. He has served as a Berkshire director for thirty three years.
## Buffett on stepping back
Buffett wrote in his letter: "Father Time always wins. He has, however, been generous with me. The company is in excellent hands."

> Father Time always wins. He has, however, been generous with me. The company is in excellent hands.
## Six decades of transformation
Buffett spent six decades transforming a struggling textile manufacturer into one of the world's most successful companies. Berkshire shares gained more than five million five hundred thousand percent from nineteen sixty five through twenty twenty four.
## Greg Abel leads as CEO
Buffett stepped down as CEO several months ago, handing the role to Greg Abel, now sixty four. Buffett said Abel has exceeded his sky high expectations and made all the important decisions.
## Abel praises Buffett's legacy
In his statement, Abel said Warren's impact on Berkshire and its owners is without parallel in the history of American business, cementing the transition between the two leaders.

> Warren's impact on Berkshire and its owners is without parallel in the history of American business.
## Key takeaway

Warren Buffett, 96, is stepping down as Berkshire Hathaway chairman to become chairman emeritus, with his son Howard taking over under a longstanding succession plan.