Warren Buffett steps down as Berkshire chairman after 56 years
Dubai: Warren Buffett has stepped down as chairman of Berkshire Hathaway after 56 years, completing a leadership transition at the company he has led for more than half a century. Get updated faster and for FREE: Download the Gulf News app now - simply click here. Berkshire said on Friday, September 18, that the 96-year-old Buffett has become chairman emeritus with immediate effect and will…
Warren Buffett has announced his decision to step down as chairman of Berkshire Hathaway after a 56-year tenure, effective immediately. The 96-year-old billionaire will retain his position as a board member. His son, Howard G. Buffett, has been chosen as the new chairman, having been elected to the role in September. Greg Abel, who has served as CEO since 2026, will continue to lead the company.
Susan L. Decker will remain the lead independent director. Buffett's transition plan was outlined in a letter to shareholders, stating that his son will take on the chairman role while he remains a director. Buffett expressed confidence in Howard's ability to maintain the company's culture and values. The changes reflect a shift in responsibilities that Buffett had previously outlined, with the CEO and chairman roles being separated.
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