{
  "id": 8251081,
  "title": "Warren Buffett Ends Six-Decade Reign, Son Howard Takes Berkshire Chair",
  "url": "https://urgent.news/2026/09/18/warren-buffett-ends-six-decade-reign-son-howard-takes-berkshire-chair",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-18T12:44:03.000Z",
  "source": {
    "name": "Free Press Journal",
    "slug": "free-press-journal",
    "url": "https://www.freepressjournal.in/business/warren-buffett-ends-six-decade-reign-son-howard-takes-berkshire-chair"
  },
  "original_language": "en",
  "account": "Warren Buffett has announced his retirement as chairman of Berkshire Hathaway, concluding a six-decade tenure at the helm of the USD 1 trillion conglomerate. In a letter to shareholders, the 96-year-old investor revealed he will take on the role of chairman emeritus immediately, while remaining a director on the company's board. His son, Howard Buffett, will assume the chairman position, with Susan Decker maintaining her role as lead independent director. The change comes nine months after Greg Abel, 64, succeeded Buffett as chief executive officer (CEO). This transition creates a clear division of responsibilities, with Abel continuing to run the business and Howard focusing on preserving Berkshire's culture, values, and long-term character. \"Greg runs the company; Howard will guard its culture and values,\" Buffett stated, emphasizing his son's role as a safeguard for shareholders. Despite stepping down from the chairmanship, Buffett will continue to serve as a director and shareholder, ensuring continuity as Abel manages Berkshire's extensive portfolio of businesses and investments. The billionaire remains available for major decisions and has visited the company's Omaha offices since relinquishing the CEO role. Berkshire Hathaway, under Buffett's leadership since 1965, has transformed from a struggling textile manufacturer into a global powerhouse with interests spanning insurance, railways, energy, manufacturing, and listed equities. The company reported operating earnings of USD 44.5 billion in the previous year and employs nearly 400,000 people. Berkshire's shares have delivered a compounded annual return of 19.7 percent under Buffett's stewardship, outperforming the S&P 500's average return of 11 percent over the same period. With Berkshire shares lagging behind the broader market in 2026, Abel faces the challenge of deploying the company's USD 365.5 billion cash reserve while maintaining discipline in acquisitions, investments, and share repurchases. Despite the significant changes, Buffett praised Abel's capabilities, stating that he exceeded his high expectations. \"The company is in excellent hands,\" Buffett affirmed, expressing confidence in Berkshire's future under Abel's leadership.",
  "summary": "Warren Buffett has stepped down as chairman of Berkshire Hathaway, ending six decades at the helm of the USD 1 trillion conglomerate and completing another major stage in its succession plan. The 96-year-old investor announced the decision in a letter to shareholders. He will become chairman emeritus with immediate effect while continuing to serve as a director on Berkshire’s board. His son,…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Fortune",
        "title": "Warren Buffett abruptly steps down as Berkshire chair as ‘Father Time’ wins, handing role to son Howard who will ‘guard its culture and values’",
        "url": "https://urgent.news/2026/09/18/warren-buffett-abruptly-steps-down-as-berkshire-chair-as-father-time",
        "published": "2026-09-18T14:19:03.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}