Buffett Steps Down as Berkshire Chairman; Son Howard Takes Role

Berkshire Hathaway said Friday that Warren Buffett has stepped down as chairman and become chairman emeritus, effective immediately. His son Howard Buffett, a director since 1993, succeeds him.

Buffett, who built the conglomerate over six decades, wrote that “Father Time always wins” but has been generous. He remains a director and praised CEO Greg Abel. Abel said Buffett’s impact is without parallel.

The move completes a long-planned transition. Buffett handed the chief executive post to Abel at the start of 2026. Shares were little changed on the news.