Warren Buffett resigns as Berkshire Hathaway chairman, son appointed successor

Warren Buffett, the long‑time chairman of Berkshire Hathaway, announced on September 18, 2026 that he will step down from the board later this year, marking the end of a tenure that began in 1965. In a letter to shareholders, Buffett cited the need for a smooth leadership transition and affirmed confidence in the company’s existing management team, including CEO Greg Abel, who is expected to assume the chairmanship. The announcement, published in the New York Times, highlighted Buffett’s continued involvement as a senior advisor and his intention to remain active in charitable initiatives through the Bill & Melinda Gates Foundation.

Market analysts noted that the succession plan, outlined in the filing, aims to preserve Berkshire’s decentralized operating model and its emphasis on long‑term value investing. Shares of Berkshire Hathaway opened marginally higher on the news, reflecting investor optimism about the continuity of strategy under Abel’s leadership. The transition is slated to be completed by the end of 2026, after which Buffett will focus on mentorship within the firm and his philanthropic commitments, signaling a measured shift rather than an abrupt departure.