Warren Buffett Steps Down as Berkshire Chairman, Son Howard Takes Over

Warren Buffett has stepped down as chairman of Berkshire Hathaway, marking another major transition at the company he has led for decades. Berkshire announced Friday, September 18, 2026, that Buffett will become chairman emeritus, while his son Howard Buffett becomes chairman. Greg Abel remains Berkshire Hathaway’s CEO.

Quick Answer

Warren Buffett is no longer Berkshire Hathaway’s chairman. Effective immediately, he has been named chairman emeritus and will remain on Berkshire’s board. Howard Buffett, who has served as a Berkshire director since 1993, becomes chairman, while Greg Abel continues as CEO after taking over that role at the start of 2026.

Current Status: Berkshire Hathaway Leadership Changes

The latest move completes another stage of Berkshire Hathaway’s leadership succession. Buffett stepped down as CEO at the end of 2025, with Greg Abel becoming CEO on January 1, 2026. Buffett remained chairman until Friday’s announcement.

Buffett will continue as a board member and retain an advisory connection to Berkshire, according to the company announcement reported by Reuters.

5 Key Developments

1. Warren Buffett becomes chairman emeritus → He steps away from the chairman position but remains on the board.
2. Howard Buffett becomes chairman → Buffett’s son succeeds him as Berkshire’s board chair.
3. Greg Abel remains CEO → Abel has led Berkshire’s day-to-day operations since January 1, 2026.
4. Succession continues → The latest change follows Buffett’s previously announced CEO transition at the end of 2025.
5. Buffett remains connected to Berkshire → He continues as a director rather than leaving the company entirely.

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Why Did Warren Buffett Step Down as Chairman?

Warren Buffett has now moved out of Berkshire Hathaway’s top operating and board leadership roles as part of the company’s broader succession transition. He previously announced his plan to leave the CEO position, with Greg Abel selected as his successor.

The chairman change separates the company’s board leadership from its CEO role, with Howard Buffett becoming chairman and Abel continuing as CEO.

Who Is Howard Buffett?

Howard Buffett has been a Berkshire Hathaway director since 1993. He also leads the Howard G. Buffett Foundation and has experience in business, philanthropy and other corporate boards. Berkshire’s proxy materials identify him as a longtime director with extensive organizational experience.

What Happens to Greg Abel?

Greg Abel remains Berkshire Hathaway’s CEO. He assumed the position on January 1, 2026, after Warren Buffett stepped down as CEO at the end of 2025.

What Happens Next?

The focus now shifts to how Berkshire operates under the combination of Howard Buffett as chairman and Greg Abel as CEO, while Warren Buffett remains a board member and source of experience. The leadership structure represents a significant generational transition for the company.

Final Take

Warren Buffett’s move to chairman emeritus marks another major milestone in Berkshire Hathaway’s succession. Howard Buffett now chairs the board, Greg Abel continues as CEO, and Warren Buffett remains involved as a director.

 

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FAQs

1. Did Warren Buffett step down as chairman?

Yes. Berkshire Hathaway announced on September 18, 2026, that Buffett became chairman emeritus effective immediately.

2. Who replaced Warren Buffett as chairman?

His son, Howard Buffett, was appointed chairman of Berkshire Hathaway.

3. Is Warren Buffett leaving Berkshire Hathaway?

No. Buffett remains a member of Berkshire Hathaway’s board of directors.

4. Who is Berkshire Hathaway’s CEO?

Greg Abel is Berkshire Hathaway’s CEO. He took over the CEO position on January 1, 2026.

5. How long was Warren Buffett associated with Berkshire?

Buffett began leading Berkshire in the 1960s and became chairman and CEO in 1970, helping transform the company into a major diversified conglomerate.