Warren Buffett stepped down as chairman of Berkshire Hathaway Inc. on September 18, 2026, becoming chairman emeritus effective immediately, with his son Howard Buffett taking over as non-executive chairman, according to Reuters. The move comes nearly nine months after Buffett, aged 96, stepped down as CEO in favor of longtime lieutenant Greg Abel, and Buffett will remain a director on the board. Berkshire enters the post-Buffett era from a position of financial strength, with second-quarter operating profit up 16% to $12.98 billion and $364.7 billion in cash and equivalents, while its shares compounded at 19.7% annually from 1965 through 2025 versus 10.5% for the S&P 500. Still, LSEG data cited by Reuters show Berkshire's price-to-book ratio declined from approximately 1.62 to 1.53 after Buffett first announced his CEO departure, and the stock had gained only around 1% in 2026 against approximately 12% for the S&P 500. Buffett will not retain a management position or routinely serve as Abel's sounding board, leaving Abel to prove he can deploy the $364.7 billion cash reserve and maintain discipline across Berkshire's businesses.
Berkshire Hathaway IncWarren Buffett steps down as chairman with Howard Buffett taking over, a leadership transition with no clear directional driver stated
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