Warren Buffett Hands Berkshire Chairmanship to Son Howard

Warren Buffett has stepped down as chairman of Berkshire Hathaway, with his son Howard taking over the board’s top role. The change took effect immediately on 18 September, according to the company.

Buffett, 96, is not leaving Berkshire entirely. He becomes chairman emeritus and remains a director, allowing him to continue contributing to the business he has served since 1965.

The announcement follows the earlier handover of the chief executive role to Greg Abel. The distinction matters: Abel runs the company, while Howard’s role centres on preserving Berkshire’s culture and values. Howard has been a director since 1993.

In a letter to shareholders, Buffett said Abel had exceeded his expectations and was already making the key decisions. Susan Decker will remain the board’s lead independent director.

Reuters described the transition as another milestone for the investor who helped turn a struggling textile business into a conglomerate worth about $1.1 trillion.

For Berkshire’s shareholders, the message is continuity: responsibility is passing to the next generation, but Warren Buffett retains a place on the board.

Sources: Reuters; Berkshire Hathaway announcement and shareholder letter, 18 September 2026.

File photo: Warren Buffett in New York, 20 September 2010. Anthony Quintano / Wikimedia Commons, CC BY 4.0. Cropped for layout.