Warren Buffett steps down as Berkshire chair, becomes chairman emeritus

Berkshire Hathaway announced on Friday that legendary investor Warren Buffett will step down as the conglomerate's chairman and become its chairman emeritus, effective immediately. This move comes after Buffett first disclosed his intention to retire from his role in May 2025, surprising both shareholders and analysts.

In a heartfelt letter to shareholders, Buffett, now 96 years old, acknowledged the inexorable passage of time, stating, "Father Time always wins." Despite his advanced age, he expressed gratitude for the generous support he has received throughout his career.

Berkshire Hathaway has named Buffett's son, Howard Buffett, as chairman since 1993. In the statement issued by the conglomerate, it was announced that as Chairman Emeritus, Buffett will continue to serve on the board of directors and will offer his valued judgment and perspective to the company.

Buffett's influence extends far beyond Berkshire Hathaway, shaping generations of corporate leaders and investors with his focus on long-term thinking, disciplined capital allocation, and straightforward management. His annual shareholder meetings have become a gathering point for investors seeking insight into the broader business landscape.

Under Buffett's leadership, Berkshire Hathaway has grown into an approximately US$1.03 trillion conglomerate, encompassing a diverse range of businesses such as Geico car insurance, BNSF railroad, Berkshire Hathaway Energy, Dairy Queen, Fruit of the Loom, and even Squishmallows plush toys.