Warren Buffett Steps Down as Berkshire Chairman After 50+ Years
Warren E. Buffett stepped down as chairman of Berkshire Hathaway on September 18, 2026, in Omaha, Nebraska. Howard G. Buffett was elected chairman. Warren E. Buffett became Chairman Emeritus — an honorary title without the chair's powers — and remains a director, according to the company release republished by Yahoo Finance.
Warren Buffett had served as chairman for more than 50 years, as reported by WTOP. The change follows his departure as chief executive in late 2025. Greg Abel succeeded him as CEO, as reported by 9News.
The CEO handoff was flagged at the annual shareholder meeting in May 2025. Buffett said there he would step down as CEO at the end of the year, as reported by CNN. He recommended Vice Chairman Greg Abel, his designated successor, to begin as CEO in 2026, and said he planned to remain at Berkshire after Abel took over, as reported by The Wall Street Journal. That happened in two steps. First the CEO transfer. Now the chairmanship.
Howard G. Buffett has been a director of Berkshire Hathaway since 1993, according to the 2026 proxy statement. He is Chairman and CEO of the Howard G. Buffett Foundation, according to the 2025 annual report. Earlier descriptions of the succession plan had framed Howie Buffett, Warren Buffett's eldest son, as set to become non-executive chairman — a board leader who does not manage daily operations — on his father's death. The September 2026 action puts him in the chair while his father remains on the board.
On the capital side, Warren E. Buffett converted 1,800 A shares into 2,700,000 B shares to give the B shares to four family foundations, as disclosed in the November 2025 release. A shares carry a high price and more voting power; B shares are lower-priced slices of the same equity.
The broader context here is governance structure rather than operating control. Berkshire now has a separated chair and CEO, with Abel holding the executive mandate and Howard Buffett holding the board chair. The split is now formal. Think of it like a team: Abel coaches on the field, Howard Buffett leads the boardroom that sets rules and reviews big cash decisions. That separation clarifies authority for capital allocation decisions, subsidiary oversight, and board agenda control.
In my view, the retention mechanics matter as much as the titles. Warren E. Buffett did not leave the board. He moved to Chairman Emeritus and director. That preserves access to institutional memory without retaining the chair's procedural powers. It also leaves continuity during the first full year of Abel as CEO and Howard Buffett as chairman. Watch board committee assignments, meeting leadership, and any further A-share conversions for gifts. Those filings will show how economic exposure and voting influence evolve after the leadership transfer.
