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Warren Buffett Steps Down as Berkshire Hathaway Chairman
The 96-year-old investor will remain a director as Howard Buffett takes over under Berkshire Hathaway's long-standing succession plan.
- On Friday, Warren Buffett announced he is stepping down as chairman of Berkshire Hathaway, with his son Howard Buffett replacing him as chairman while Buffett becomes chairman emeritus and remains a director.
- This transition follows a long-standing succession plan, occurring nine months after Greg Abel took over as CEO, with Buffett defining his son's role as "Think of Howard as a policy the shareholders own and hope never to claim against."
- Under Buffett's tenure since 1965, the firm transformed from a failed New England textiles mill into a $1 trillion conglomerate with $44.5 billion in operating earnings and nearly 400,000 employees.
- Berkshire shares have risen just 1% in 2026 while the broader market rallied more than 11%, prompting Abel to step up share repurchases to $4.5 billion in the second quarter.
- Buffett, 96, emphasized confidence in the company's future, writing "The company is in excellent hands, and I look forward to remaining a shareholder alongside you," while continuing to work at the office five days a week.
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Wall Street JournalReposted by 
Barron's
Barron'sWarren Buffett Steps Down as Berkshire Hathaway Chairman
Warren Buffett Steps Down as Berkshire Hathaway Chairman
·New York, United States
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Coverage Details
Total News Sources7
Leaning Left1Leaning Right0Center4Last UpdatedBias Distribution80% Center
Bias Distribution
- 80% of the sources are Center
80% Center
L 20%
C 80%
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