Warren Buffett announced this Friday, September 18, 2026 that he was stepping down as Chairman of the Board of Directors of Berkshire Hathaway. An emblematic figure in global investment, the 96-year-old Oracle of Omaha becomes president emeritus. His eldest son, Howard Buffett, succeeds him as chairman of the board. This transition, effective immediately, marks the final stage of the conglomerate’s succession plan.
In brief
- Warren Buffett becomes chairman emeritus of Berkshire Hathaway.
- Howard Buffett takes over as chairman of the board.
- Greg Abel remains CEO and retains operational management of the group.
A new stage in the succession of Berkshire
This decision was expected as part of Berkshire Hathaway’s succession plan. Warren Buffett remains a director of the company, but no longer heads its board.
In his letter to shareholders, Buffett summed up this change with a phrase that has become particularly personal: “Father Time always wins”. After more than six decades at the helm of Berkshire, he believes the time has come to step down for good.
The change comes nine months after he left the post of CEO. Since January 2026, Greg Abel has managed the group’s operations.
This separation between the presidency of the board and general management therefore makes it possible to finalize a transition prepared for several years.
Howard Buffett charged with preserving the spirit of the group
Howard G. Buffett, 71, has served on the board of directors of Berkshire since 1993. He will not be responsible for managing the day-to-day activities of the conglomerate. His role will be mainly linked to the culture and values that shaped Berkshire under Warren Buffett.
In his letter, Warren Buffett clearly summarizes the distribution of responsibilities : Greg Abel runs the company, while Howard must ensure that its culture and values are preserved.
This organization gives Berkshire a different structure from that which prevailed when Warren Buffett combined the functions of president and CEO.
Greg Abel remains in control
Greg Abel therefore remains primarily responsible for managing Berkshire Hathaway. Appointed CEO on January 1, 2026, he manages the group’s activities and operational decisions.
For shareholders, the change above all marks the end of an era. Warren Buffett remains on the board and maintains his links with Berkshire, but the management of the group now rests on a new generation of leaders.
The transition is thus complete: Greg Abel takes care of running the company, while Howard Buffett takes charge of the chairmanship of the board and the continuity of the Berkshire culture.
Investors are now waiting for the next general meeting in Omaha to assess the trajectory of this new direction in the face of the transformation of capital flows and new global macroeconomic trends.
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