Warren Buffett Steps Down as Berkshire Chairman at 96, Remains on Board

Warren Buffett has stepped down as chairman of Berkshire Hathaway and has been named chairman emeritus with immediate effect, the company announced on September 18, 2026. His son, Howard G. Buffett, has been reportedly elected as the new chairman of the board. Warren Buffett will remain a director and continue to provide his advice and experience to the company.

Howard Buffett Takes Over as Chairman

The change is part of Berkshire Hathaway’s long-term succession plan. Howard Buffett has been a director of the company since 1993 and will now take over as chairman. Susan Decker will continue as the company’s lead independent director. Greg Abel, who became Berkshire’s CEO earlier this year, will continue in that role.

Buffett To Continue on Berkshire Board

Although Warren Buffett has reportedly left the chairman’s position, he will remain on Berkshire Hathaway’s board. The company said he will continue to offer his judgment and perspective. Buffett had already stepped down as CEO earlier in 2026, when Greg Abel took over the role.

Buffett took control of Berkshire Hathaway in 1965, when it was a textile company, and helped turn it into one of the world’s largest business groups. The company now has a market value of around $1 trillion and has businesses across several industries. His leadership and investment approach have reportedly made Berkshire Hathaway widely known among investors.

The latest change marks another step in Berkshire Hathaway’s leadership transition. Buffett, 96, will continue to be part of the board, while Howard Buffett takes charge as chairman and Greg Abel continues as CEO. The company reportedly said the transition follows its long-standing succession plan.