Buffett steps down as Berkshire chairman; son Howard elected chair

By Gabe Dunsmith · Sep 18, 2026 7:12 AM ET

cover of book about Warren Buffett — Photo by Milad Fakurian on Unsplash

Warren Buffett, the billionaire investor and long-time CEO of Berkshire Hathaway (BRK.B), announced today that he is stepping down as chairman of the company's board. His son Howard will replace him as chairman (1).

Buffett, whose investing strategies earned him the nickname "the Oracle of Omaha," is 96 years old.
"I have served Berkshire since 1965," Buffett noted in a press release (1). "Sixty-plus years in, I still have the best job in the world. That is not something many people my age can say, and I have never felt better about what comes next."
The decision is effective immediately. Buffett is now Chairman Emeritus and remains a director (1, 2).
Howard G. Buffett, son of Warren Buffett, has been a director since 1993. He has now been elevated to chairman, with Susan L. Decker staying on as Lead Independent Director (1).
In his resignation letter, Buffett suggested that the roles played by CEO Greg Abel and chairman Howard Buffett are distinct and vital. "Greg runs the company," said Buffett. "Howard will guard its culture and values – both worth more than anything on our balance sheet" (1).
Greg Abel has been serving as President and CEO since Jan. 1, 2026. He noted in a company press release that "[t]he culture Warren built and the values he championed will remain at the heart of Berkshire, and Howard will be their guardian" (1, 2, 3).
Buffett projected confidence in his son, whose 33-year stint as a director has provided, Buffett claimed, "a longer apprenticeship than I served before taking the reins at the age of 34" (1).
As he is now well into his 90s, Buffett suggested that his company is better off in younger hands. "Father Time," he noted, "always wins" (1).
Shares of the company are up just 1% so far this year and have failed to keep pace with broader market gains (2).

Sources & Further Reading

"Warren E. Buffett Becomes Chairman Emeritus, Remains Director; Howard G. Buffett Elected Chairman." Berkshire Hathaway. September 18, 2026.
"Warren Buffett stepping down as chairman of Berkshire Hathaway: 'Father Time always wins'." CNBC. September 18, 2026.
"Berkshire Hathaway Inc. News Release." Berkshire Hathaway. May 5, 2025.