Buffett replaced by son Howard as Berkshire Hathaway chairman
The billionaire will become chairman emeritus of the company with immediate effect
Warren Buffett has stepped down from his role as chairman of Berkshire Hathaway, effective September 18th, 2025, and will now hold the title of chairman emeritus. The company announced the transition in a press release, stating that Buffett will continue to be a member of the board of directors. In a letter to shareholders, Buffett cited his recent 96th birthday and the impressive performance of CEO Greg Abel, who has exceeded Buffett's expectations, as the reasons for the move. Buffett expressed confidence in Berkshire's future and praised Abel's leadership.
Howard Buffett, Buffett's son, will assume the role of chairman, following the company's established succession plan. Howard, who has been a Berkshire Hathaway director since 1993 and serves as chairman and CEO of the Howard G. Buffett Foundation, will lead the company in preserving its culture and values. President and CEO Greg Abel emphasized that Berkshire's culture and values, cultivated by Buffett, will remain at the core of the company under Howard's stewardship.
Abel also expressed gratitude to Susan Decker, the Lead Independent Director, for her leadership and contributions.
Prior to this transition, Buffett recommended to the board that they appoint Abel as president and CEO, effective January 1st, 2026. The board unanimously approved the appointment, with Buffett remaining as chairman. This appointment marks the end of one of the longest tenures at the helm of a major corporation and has garnered widespread praise and tributes from industry experts and peers.
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