Buffett steps down as Berkshire chair on September 18 after over 60 years at the helm
Howard Buffett takes over as chairman of US group Berkshire Hathaway, while Warren Buffett becomes chairman emeritus and remains a director
- Warren Buffett stepped down as chairman of Berkshire Hathaway on September 18 after more than 60 years leading the company.
- He is succeeded as chairman by his son, Howard Graham Buffett, who has been a member of the board since 1993.
- Warren Buffett will not be leaving the company entirely; he will become chairman emeritus and remain a director on the board.
Berkshire Hathaway announced on Friday (September 18, 2026) that Warren Buffett had stepped down as chairman with immediate effect, ending more than six decades of leadership at the US conglomerate. His son, Howard Graham Buffett, succeeds him, while Warren Buffett becomes chairman emeritus and remains a director, according to the company’s announcement.
Howard Buffett has served on Berkshire’s board since 1993. The change comes about nine months after Warren Buffett handed the chief executive role to Greg Abel, a longstanding colleague.
Warren Buffett retains a seat on Berkshire’s board
Berkshire said Warren Buffett would continue contributing his judgement and perspective as a director alongside his new honorary title.
Chairman emeritus is generally a title conferred on a retired board leader or company founder to recognise past service and a lasting contribution to the business.
Berkshire shares fall in pre-market trading
Berkshire’s Class B shares were down 0.3% in pre-market trading on September 18. For years, investors had attached a “Buffett premium” to the stock, valuing the company above its underlying fundamentals because of Warren Buffett’s reputation.
Berkshire’s price-to-book ratio had declined from about 1.62 to 1.53 since Warren Buffett announced his departure as chief executive, according to data compiled by London Stock Exchange Group (LSEG).
Berkshire remained the only financial company among businesses with market capitalisations of at least US$1 trillion, a group dominated by large technology companies.
Buffett’s legacy extends beyond Berkshire
Warren Buffett, 96, has been with Berkshire since 1965. He transformed a struggling textile business into a conglomerate worth US$1.1 trillion, developing an investment philosophy that influenced generations of investors and executives and made him a central figure in modern American business.
Warren Buffett’s emphasis on long-term thinking, disciplined capital allocation and straightforward management shaped corporate leadership well beyond Berkshire.
Chief executives turned to Warren Buffett for advice on acquisitions, succession planning and navigating volatile markets. Berkshire’s annual shareholder meetings also became a gathering place for investors.
Warren Buffett first announced his plan to step down as chief executive in May 2025, surprising shareholders and analysts despite his advanced age. Decades of leadership had made him almost synonymous with Berkshire, leaving his succession among the most closely watched transitions in American business.
“Father Time always wins. He has, however, been generous with me,” Warren Buffett wrote in his September 18 letter to shareholders.
