Breaking News | Updated September 18, 2026
Warren Buffett Steps Down as Berkshire Hathaway Chairman After More Than Five Decades
A major chapter in American business history has ended.
Warren Buffett has officially stepped down as chairman of Berkshire Hathaway, the company he transformed from a struggling textile business into one of the world’s most prominent conglomerates.
Berkshire Hathaway announced on September 18, 2026, that Buffett has become Chairman Emeritus with immediate effect. He will remain on Berkshire’s board of directors and continue to provide his judgment and perspective to the company.
The board has elected Howard G. Buffett, Warren Buffett’s son, as the new chairman. Susan L. Decker will continue as Berkshire’s Lead Independent Director.
The announcement represents another major stage in Berkshire Hathaway’s long-planned leadership transition.
🔴 BREAKING: Warren Buffett Is No Longer Berkshire Hathaway Chairman
Berkshire Hathaway confirmed Friday that Warren Buffett has relinquished the chairman position he held for decades.
The company said Buffett will now serve as Chairman Emeritus, while remaining a member of the board.
This is important because Buffett is not completely leaving Berkshire Hathaway.
He will continue to sit on the company’s board and provide advice and perspective, although the company’s day-to-day leadership is now firmly under the next generation of management.
The announcement follows Buffett’s earlier decision to step down as Berkshire’s chief executive.
Who Is Running Berkshire Hathaway Now?
The leadership structure is now divided among three important figures:
Warren Buffett — Chairman Emeritus
Buffett will remain a director of Berkshire Hathaway and continue providing his experience and perspective.
Greg Abel — Chief Executive Officer
Greg Abel became Berkshire Hathaway’s CEO at the beginning of 2026 after Buffett relinquished the CEO position at the end of 2025.
Abel is now responsible for the company’s executive management and operations.
Howard Buffett — Chairman of the Board
Howard G. Buffett has been elected chairman of Berkshire Hathaway’s board.
The company’s announcement says Howard has served as a Berkshire director since 1993.
This creates a leadership structure in which Greg Abel manages the company while Howard Buffett takes the chairmanship of the board, with Warren Buffett remaining as Chairman Emeritus and director.
Why Did Warren Buffett Step Down?
Buffett’s latest transition comes after a long period of succession planning.
He previously announced that Greg Abel would succeed him as CEO, and Abel formally assumed that role in January 2026.
Buffett’s latest departure from the chairmanship therefore represents the next stage of that transition. Reuters and AP both report that Buffett has now stepped down from the chairman role while remaining a director.
Buffett has also referenced the passage of time and his age in discussing his changing role.
At 96, the legendary investor is moving away from Berkshire’s formal leadership while retaining an ongoing connection with the company.
What Happens to Berkshire Hathaway After Buffett?
One of the biggest questions for investors is what Berkshire Hathaway will look like without Buffett occupying the top leadership positions.
The company has been preparing for this transition for years.
Berkshire’s succession plan separates management from the preservation of the company’s culture.
Greg Abel is responsible for running the company as CEO, while Howard Buffett’s new chairman role is expected to focus heavily on maintaining Berkshire’s distinctive culture and values. Berkshire itself described Howard as the person who will be their “guardian.”
That means the transition is not simply about replacing one executive with another.
It represents a shift from the Buffett-led era toward a new management structure.
Who Is Greg Abel?
Greg Abel is the executive now responsible for leading Berkshire Hathaway.
Before becoming CEO, Abel served as Berkshire’s vice chairman overseeing its non-insurance businesses and previously led Berkshire Hathaway Energy.
Berkshire’s succession process had identified Abel as Buffett’s designated successor well before the formal handover.
In a 2025 Berkshire shareholder communication, Buffett said Abel would become “the boss” at year-end and described him as a strong manager and communicator.
Abel officially became CEO in January 2026.
His challenge is now to lead one of the world’s largest and most diversified corporate groups without Buffett occupying the CEO position.
Who Is Howard Buffett?
Howard G. Buffett is Warren Buffett’s son and a longtime Berkshire director.
According to Berkshire Hathaway’s official announcement, Howard has served on Berkshire’s board since 1993. He has also chaired and served as CEO of the Howard G. Buffett Foundation since 1999.
His new role is different from Greg Abel’s.
Howard Buffett is chairman of the board, not Berkshire’s CEO.
Greg Abel remains the chief executive responsible for running the company.
That distinction is important for investors trying to understand Berkshire’s new leadership structure.
Warren Buffett’s Extraordinary Berkshire Legacy
Warren Buffett took control of Berkshire Hathaway in 1965.
What began as a struggling textile business eventually became a diversified conglomerate with operations spanning insurance, reinsurance, energy, rail transportation, manufacturing, services and retailing.
Berkshire’s businesses include well-known operations such as:
- GEICO
- BNSF Railway
- Berkshire Hathaway Energy
- Insurance and reinsurance operations
- Manufacturing businesses
- Retail businesses
- Service businesses
- Large publicly traded equity investments
Over more than six decades, Buffett became one of the world’s best-known investors and corporate leaders.
His investment philosophy emphasized long-term ownership, disciplined capital allocation and investing in businesses he believed could create durable value.
Why This Announcement Matters to Investors
Buffett’s departure from the chairmanship is significant because Berkshire has long been closely associated with his personal leadership.
Investors have watched Buffett make major capital-allocation decisions, acquisitions and investment decisions for decades.
The transition raises several important questions:
1. Will Berkshire maintain its investment philosophy?
The company has repeatedly emphasized continuity of its culture and values.
2. How will Greg Abel allocate Berkshire’s enormous capital base?
Abel now has greater responsibility for acquisitions, investments and other capital decisions.
3. Will Berkshire make larger acquisitions?
The company’s enormous scale means finding investments capable of materially affecting results can be difficult.
4. How much influence will Buffett retain?
Buffett remains a director and Chairman Emeritus, meaning he has not completely disappeared from Berkshire’s governance structure.
5. How will investors respond?
Berkshire’s stock performance, earnings, acquisitions, cash levels and capital allocation will remain closely watched as the new leadership structure develops.
Berkshire Hathaway’s Business Empire
Berkshire is far more than an investment portfolio.
Its operating businesses span several major sectors.
| Sector | Examples |
|---|---|
| Insurance | GEICO and reinsurance businesses |
| Railroads | BNSF Railway |
| Energy | Berkshire Hathaway Energy |
| Manufacturing | Multiple industrial businesses |
| Retail | Consumer and retail operations |
| Services | Various service businesses |
| Investments | Large portfolio of publicly traded companies |
The breadth of Berkshire’s operations means that its performance depends on many different parts of the U.S. and global economy.
Will Warren Buffett Completely Leave Berkshire Hathaway?
No.
This is one of the most important points readers should understand.
Buffett has stepped down as chairman, but Berkshire Hathaway’s official announcement states that he will:
- Become Chairman Emeritus
- Remain a board member
- Continue offering his judgment and perspective
Therefore, describing the announcement as Buffett “leaving Berkshire Hathaway completely” would be inaccurate.
Instead, this is a major reduction in his formal leadership role.
A Timeline of Buffett’s Berkshire Transition
1965
Buffett takes control of Berkshire Hathaway.
1970
Buffett becomes chairman of Berkshire Hathaway.
2025
Buffett announces that Greg Abel will succeed him as CEO.
January 2026
Greg Abel becomes Berkshire Hathaway CEO.
September 18, 2026
Buffett steps down as chairman.
September 18, 2026
Howard G. Buffett becomes chairman of Berkshire Hathaway.
September 18, 2026
Warren Buffett becomes Chairman Emeritus and remains on the board.
What Berkshire Hathaway Says About Buffett’s Legacy
Berkshire’s announcement described Buffett’s impact on the company and its owners as extraordinary and emphasized that the culture he established would remain central to Berkshire.
Greg Abel also said Howard Buffett would help safeguard that culture and values.
That message provides an important indication of how Berkshire wants investors to understand the transition: a change in formal leadership, but an emphasis on continuity in corporate culture.
What Investors Will Be Watching Next
The next phase of Berkshire Hathaway’s story will likely be closely monitored across Wall Street.
Key areas include:
📈 Berkshire stock performance
Investors will watch BRK.A and BRK.B as the company operates under the new leadership structure.
💰 Capital allocation
Greg Abel’s decisions regarding investments, acquisitions, share repurchases and cash will receive significant attention.
🏢 Major acquisitions
Berkshire has historically used its large financial resources to acquire businesses and make investments.
🛡️ Insurance operations
Insurance remains one of Berkshire’s core businesses and a major source of capital.
🚆 BNSF Railway
The railroad business remains an important component of Berkshire’s operating portfolio.
⚡ Energy operations
Berkshire Hathaway Energy represents another major operating segment.
👔 Corporate culture
Howard Buffett’s role will be closely watched because Berkshire has emphasized preserving the culture established by Warren Buffett.
Is Warren Buffett Retiring Completely?
The latest announcement should be described carefully.
Buffett is stepping down as chairman, but he remains a Berkshire Hathaway director and has been named Chairman Emeritus.
He is therefore not completely severing his relationship with the company.
The distinction between retiring from executive leadership and remaining involved as a director and adviser is central to understanding today’s announcement.
What Does This Mean for Berkshire Shareholders?
For shareholders, the immediate story is about leadership succession and continuity.
Berkshire has spent years preparing for the eventual transition away from Buffett’s direct leadership.
With Greg Abel already serving as CEO and Howard Buffett now serving as chairman, the company has moved further into its post-Buffett leadership era.
The longer-term effects will become clearer through future earnings reports, investment decisions, acquisitions and annual shareholder communications.
Warren Buffett Steps Down: Key Facts at a Glance
| Detail | Latest information |
|---|---|
| Company | Berkshire Hathaway |
| Warren Buffett’s new role | Chairman Emeritus |
| Buffett remains a director? | Yes |
| New chairman | Howard G. Buffett |
| CEO | Greg Abel |
| Announcement date | September 18, 2026 |
| Company headquarters | Omaha, Nebraska |
| Buffett’s Berkshire leadership began | 1965 |
| Chairman since | 1970 |
| New transition | Chairman → Chairman Emeritus |
The leadership details above are based on Berkshire Hathaway’s official September 18 announcement.
Frequently Asked Questions
Did Warren Buffett step down from Berkshire Hathaway?
Buffett stepped down as chairman but remains a director and has become Chairman Emeritus.
Who replaced Warren Buffett as chairman?
His son, Howard G. Buffett, was elected chairman of Berkshire Hathaway’s board.
Who is Berkshire Hathaway’s CEO?
Greg Abel is Berkshire Hathaway’s CEO. He assumed the position in January 2026.
Is Warren Buffett still involved with Berkshire?
Yes. He remains a member of Berkshire’s board and Chairman Emeritus.
Why did Warren Buffett step down?
The transition follows his earlier move away from the CEO position and represents the next stage of Berkshire’s long-planned succession process. Current reporting also notes Buffett’s age and his comments about the passage of time.
How long did Warren Buffett lead Berkshire Hathaway?
Buffett took control of Berkshire in 1965 and became chairman in 1970, giving him more than five decades as chairman.
The End of an Era — and the Beginning of Berkshire’s Next Chapter
Warren Buffett stepping down as chairman marks one of the most significant leadership transitions in modern American corporate history.
But the Berkshire Hathaway story does not end with Buffett’s departure from the chair.
Greg Abel now leads the company as CEO, Howard Buffett has taken the chairman’s role, and Warren Buffett remains connected to Berkshire as Chairman Emeritus and a board director.
The immediate focus for shareholders will now shift toward how the new leadership manages Berkshire’s businesses, capital and distinctive corporate culture.
For Berkshire Hathaway, September 18, 2026, is therefore more than another corporate announcement. It marks a defining moment in the transition from the Warren Buffett era to the next generation of Berkshire leadership.
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Last updated September 18, 2026. Corporate roles and financial information can change; readers should consult Berkshire Hathaway’s official releases and SEC filings for primary-source information.