Berkshire Hathaway Inc. said Friday that Warren Buffett has stepped down as chairman and will become chairman emeritus, effective immediately, with the board electing his son Howard Buffett, a Berkshire director since 1993, as chairman. Buffett, 95, will remain on Berkshire's board of directors and continue to provide his judgment and perspective to the company, while Greg Abel continues as CEO and Susan Decker remains lead independent director. Buffett said "Father Time always wins" but has been generous to him, adding that he is "more confident than ever" about Berkshire's future and that "Greg runs the company; Howard will guard its culture and values." Buffett transformed a struggling New England textile mill into a global financial and industrial powerhouse with $44.5 billion in 2025 operating earnings and nearly 400,000 employees, and he stepped down as Berkshire Hathaway CEO on December 31. Abel said Buffett remained actively involved this year, regularly visiting the Omaha office and attending the annual meeting in May, and in July Buffett told CNBC he was behind Berkshire's recent major investment in Alphabet Inc. and was recovering from a broken leg.
Berkshire Hathaway IncWarren Buffett steps down as chairman with son Howard elected chairman, while Greg Abel remains CEO — a leadership/governance change with no clear positive or negative operational driver.
Alphabet Inc Class C