Berkshire Hathaway has announced a major leadership change with Warren Buffett named Chairman Emeritus of the company. Buffett is now Chairman Emeritus, and he will continue to have a formal role within the company.
Buffett will remain on Berkshire Hathaway’s Board of Directors as Chairman Emeritus. For the company, he will take over his responsibilities and be able to give his perspective to the board even though he steps down as chairman.
As part of the company’s long-term succession plan, the Board of Directors has elected Howard G. Buffett as the new Chairman of the Board. Howard Buffett has served as a Berkshire Hathaway director since 1993.
The appointment of a member of the Buffett family as a non-executive chair is a new step in the company’s management transition.
Susan L. Decker will continue as Berkshire Hathaway’s Lead Independent Director. The leadership structure therefore retains the board’s independent oversight role, but Howard Buffett takes on the chairmanship.
Greater change is also expected to be seen at Berkshire Hathaway in 2026, when Greg Abel takes over as CEO from Warren Buffett. Buffett had previously run Berkshire Hathaway as chairman and CEO for decades, and so the change is a further step in the company’s orderly succession process.
Buffett, commonly referred to as the “Oracle of Omaha,” transformed Berkshire Hathaway from a struggling textile company into a diversified investment company with interests in insurance, energy, transportation, manufacturing, retail, and other businesses as well.
His investment approach has been to keep long-term ownership, disciplined capital allocation, and investing in established businesses.
The company’s transition has been closely watched by investors as Buffett’s long association with Berkshire Hathaway has been an issue for decades.
In fact, the board had already outlined succession planning in previous disclosures and said a Buffett family member would be appointed non-executive chairman if Buffett left as chairman and CEO.
Howard Buffett has also held leadership roles outside Berkshire Hathaway. He has chaired the Howard G. Buffett Foundation since 1999 and has been involved in humanitarian and conservation-related work. Berkshire’s earlier proxy materials also noted that he was a director, business owner, and foundation leader.
The latest news does not mean Warren Buffett is quitting Berkshire Hathaway. He will still be on the board and continue to offer advice and perspective. The change separates his advisory and board role from the formal role of chairman.
For Berkshire Hathaway shareholders and the wider investment world, the announcement is a step in the leadership change for the company.
Greg Abel is CEO now, Howard Buffett is chairman of the board, and Warren Buffett remains Chairman Emeritus. Berkshire is following through on succession plans in terms of leadership structure, it says.
