- Buffett steps down as Berkshire Hathaway chairman after more than 50 years.
- Greg Abel remains CEO, while Howard Buffett becomes the new chairman of Berkshire.
- Berkshire enters a new era while aiming to preserve Buffett’s long-term strategy.
Warren Buffett has stepped down as chairman of Berkshire Hathaway after more than 50 years of leadership, officially completing the company’s succession plan.
Berkshire announced that the 96-year-old Buffett will become chairman emeritus. His son, Howard Buffett, will take over as chairman, while Greg Abel will remain CEO.
Buffett will stay on Berkshire’s board and continue to advise the company.
Notably, Buffett joined Berkshire in 1965 and became chairman in 1970. Under his leadership, he turned the company from a struggling textile business into a huge group with businesses in insurance, railroads, energy, manufacturing, and consumer products.
In his letter to shareholders, Buffett said his age played a role in his decision. He wrote that “Father Time always wins” but said he was very confident about Berkshire’s future.
Berkshire’s Strong Long-Term Performance
Meanwhile, Buffett’s departure has brought more attention to how well Berkshire Hathaway has performed over the years. From 1964 to 2025, Berkshire’s share value increased by 6,099,294%, compared with 46,061% for the S&P 500, including dividends.
From 1965 to 2025, Berkshire had an average yearly return of 19.7%, compared with 10.5% for the S&P 500.
Berkshire’s success came from Buffett’s strategy of buying good businesses, investing for the long term, and carefully deciding where to put the company’s money.
Some of Berkshire’s major investments and acquisitions included Coca-Cola, GEICO, BNSF Railway, and Precision Castparts.
Greg Abel Becomes CEO
The change in chairman comes a few months after Greg Abel became Berkshire Hathaway’s CEO. Abel took over as CEO on January 1, 2026, after Buffett retired.
This change gives Berkshire clearer divisions of responsibility. Abel runs the company and makes investment decisions, while Howard Buffett serves as chairman and helps protect Berkshire’s culture and values.
Howard Buffett has been on Berkshire’s board since 1993. Other longtime leaders, including Vice Chairman Ajit Jain, will also remain part of the company’s leadership team.
What Buffett’s Departure Means for Berkshire
Buffett’s departure is important because he shaped more than just Berkshire’s investments. His letters to shareholders, public comments, and annual meetings helped create a culture focused on patience, careful spending, and long-term investing.
However, the leadership transition had already begun. Greg Abel was already running Berkshire’s day-to-day business as CEO, so investors have had some time to see how the company operates without Buffett as CEO.
The main question now is whether Berkshire can maintain Buffett’s investment discipline and company culture without him making the final decisions.
For shareholders and investors worldwide, Buffett stepping down as chairman marks the end of a long era for Berkshire. The company is now entering a new period with Greg Abel as CEO and Howard Buffett as chairman.
Related: World Unveils World Money, a Stablecoin-Based Finance App in 150+ Countries
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
