Warren Buffett Steps Down as Berkshire Hathaway Chairman After Six Decades

Warren Buffett has stepped down as chairman of Berkshire Hathaway after more than six decades with the company, marking the end of one of the longest leadership eras in corporate America.

Berkshire Hathaway announced on September 18, 2026, that Buffett has become Chairman Emeritus with immediate effect. The 96-year-old investor will remain on the company’s board of directors and continue as a shareholder.

His son, Howard G. Buffett, has been elected chairman of the board. Greg Abel, who has served as Berkshire’s chief executive officer, will continue to run the company’s operations.

Buffett joined Berkshire in 1965 and became chairman in 1970. In his letter to shareholders, he said the timing was right to complete the leadership transition, adding that Abel had already been making the major decisions at the company for some time.

Buffett also said he remains confident about Berkshire’s future and described the company as being in excellent hands. Howard Buffett has served on Berkshire Hathaway’s board since 1993. According to the company, his new role will focus on protecting Berkshire’s culture and values, while Greg Abel continues to oversee the business.

Buffett’s departure comes after a period in which Berkshire Hathaway produced extraordinary long-term investment returns. According to Berkshire’s shareholder figures, an investment in Berkshire from the end of 1964 through 2025 generated an overall gain of 6,099,294%, compared with 46,061% for the S&P 500 with dividends over the same period.

Berkshire’s compounded annual gain during the period was 19.7%, compared with 10.5% for the S&P 500. The figures help illustrate the scale of Berkshire’s transformation under Buffett, from its origins as a struggling textile company into a diversified conglomerate with major interests across insurance, energy, rail transportation, manufacturing, services and retail.

Buffett’s move to Chairman Emeritus does not mark a complete departure from Berkshire. He will remain a director and shareholder, while the company’s established succession structure places Abel in charge of operations and Howard Buffett in the chairman’s role.

After more than 60 years at Berkshire, the leadership transition closes a major chapter in the company’s history while leaving Buffett involved in its governance and long-term direction.