Warren Buffett Steps Down as Berkshire Hathaway Chairman; Greg Abel Takes Helm

Warren Buffett has relinquished his role as chairman of Berkshire Hathaway Inc., with immediate effect. The 96-year-old will assume the title of chairman emeritus and remain on the board of directors. His son, Howard Buffett, will take over as chairman after 33 years as a director.

In a recent letter to shareholders, Buffett expressed confidence in the company's future under new leadership. He stated that "Father Time always wins" but expressed satisfaction with Berkshire's current position.

Greg Abel, who became CEO on January 1, received significant praise from Buffett. Buffett indicated that Abel has exceeded high expectations and has been making key decisions independently for some time.

Buffett's departure as chairman is part of a broader leadership transition that began with his stepping down as CEO in May 2025. Buffett's confidence in Abel is underscored by Abel's recent leadership in a $10 billion investment in Alphabet, focused on scaling AI infrastructure.