Warren Buffett steps down after six decades at Berkshire Hathaway

Warren Buffett has stepped down as Chairman of Berkshire Hathaway, effective September 18, 2026, concluding an influential six-decade leadership at the conglomerate. The 96-year-old legendary investor announced his decision in a letter to shareholders, stating he will assume the role of Chairman Emeritus and remain a director on the board. His son, Howard Buffett, who has served on the board since 1993, will succeed him as the new Chairman.

This move follows Buffett's earlier transition from the CEO position in May 2025, a role that Greg Abel officially took over at the beginning of 2026. Buffett expressed confidence in the company's future leadership, noting that Abel has exceeded expectations in his role as CEO.

Buffett transformed Berkshire Hathaway from a struggling textile manufacturer into a trillion-dollar conglomerate, leaving an unparalleled legacy in American business. He emphasized that while "Father Time always wins," he is optimistic about what lies ahead for the company under its new leadership, with Abel managing the operations and Howard Buffett safeguarding its culture and values.