Buffett Hands Over Reins to Son as Berkshire Seeks New Era

Warren Buffett has stepped down as chairman of Berkshire Hathaway, marking another stage in the succession of the company he transformed from a struggling textile business into a more than $1 trillion enterprise.

Buffett will become chairman emeritus, effective immediately. He will remain on the board and continue advising the company, bringing his judgment and perspective to the business.

The leadership change comes after Buffett handed the CEO role to Greg Abel on January 1, 2026, following six decades at Berkshire's helm.

Buffett's son, Howard Buffett, has been elected as chairman. He has chaired the Howard Buffett Foundation since 1999, with a focus on global food security and conflict mitigation.

As part of Berkshire's long-standing succession plan, Susan Decker continues as lead independent director.

Berkshire said it will remain true to its core investment philosophy, which is centered around buying quality businesses at attractive prices. Buffett has rarely bought stocks at more than 15 times forward earnings, maintaining valuation discipline even when investing in companies such as Apple and Coca-Cola.