Wilmington, NC, September 18, 2026 — Berkshire Hathaway announced a significant leadership transition as Warren Buffett steps down from his role as Chairman of the Board. Buffett will transition to the position of chairman emeritus, while retaining his seat on the board of directors.

His son, Howard Buffett, is set to assume the responsibilities of the new chairman. This leadership change follows an earlier transition where Warren Buffett departed as Chief Executive Officer of the company.

Greg Abel, who previously served as president of Berkshire Hathaway’s non-insurance operations, has taken over as the Chief Executive Officer. The company has confirmed these changes in its leadership structure.

The announcement marks a further step in the long-planned succession at the conglomerate, which has been guided by Buffett for decades. His continued involvement as chairman emeritus and board member signifies a partial, yet notable, shift in his day-to-day operational capacity. The role of chairman emeritus typically involves advisory duties and participation in board meetings, without the direct management responsibilities of the chairman or CEO.

Howard Buffett brings extensive experience within Berkshire Hathaway and related philanthropic endeavors to his new role. His appointment as chairman is expected to provide continuity and strategic oversight for the company’s future direction. Greg Abel’s leadership as CEO focuses on the operational management of Berkshire Hathaway’s diverse portfolio of businesses.

Further details regarding the exact timing of these transitions and specific duties associated with each new role were not elaborated upon in the initial announcement. The company has historically emphasized a stable and long-term approach to governance and management.

Story summarized from the original created by CBS News on www.wwaytv3.com, see more information here.

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