Warren Buffett Steps Down as Berkshire Hathaway Chairman; Son Howard to Succeed
Warren Buffett is stepping down as chairman of Berkshire Hathaway, the $1 trillion conglomerate he has led for over six decades. His oldest son, Howard Buffett, will assume the chairman role, while Greg Abel remains CEO, marking a key step…
Miami Fort Lauderdale, FL, September 18, 2026 — Berkshire Hathaway, the colossal conglomerate valued at approximately $1 trillion, announced a significant leadership transition as Warren Buffett relinquishes his role as chairman. Buffett, who has guided the company for over six decades, will be succeeded by his eldest son, Howard Buffett. This move formalizes a long-planned succession strategy for the Omaha-based holding company.
Howard Buffett, who has served on Berkshire Hathaway’s board of directors, will now take on the chairman position. Greg Abel will continue in his role as chief executive officer (CEO). The company has been preparing for this leadership change for an extended period, ensuring a smooth handover of responsibilities.
Warren Buffett’s tenure at the helm of Berkshire Hathaway has been marked by unparalleled success, transforming it from a struggling textile mill into a vast empire with diverse holdings including insurance, energy, manufacturing, and retail. His investment acumen and unique management style have made him one of the most influential figures in global finance.
The succession plan, now culminating with this announcement, aims to maintain the company’s stability and operational continuity under new leadership. While the specific details of the transition’s timeline beyond Buffett’s departure from the chairmanship were not elaborated, the structure ensures that operational leadership remains with CEO Greg Abel, while Howard Buffett takes on the oversight role of chairman.
This change signifies a pivotal moment for Berkshire Hathaway, reflecting a generational shift in its top leadership. The company’s future direction will now be shaped by Howard Buffett’s chairmanship and Greg Abel’s continued leadership as CEO, building upon the foundation laid by Warren Buffett over many years. The financial community will be observing closely as the company navigates this new chapter under its established succession framework. The exact date of Buffett’s departure from the chairman role was not specified.
Story summarized from the original created by By JOSH FUNK and MICHELLE CHAPMAN, Associated Press on www.local10.com, see more information here.
