Business
oi-Swastika Sruti
Warren Buffett, one of the most famous investors of the world, resigned from his position as chairman of Berkshire Hathaway after more than five decades of leading the corporation.
Warren Buffett resigned as Berkshire Hathaway Chairman after over five decades, becoming Chairman Emeritus, while his son Howard G. Buffett assumes the Chairman role and Greg Abel continues as CEO, completing the company’s leadership transition.
Buffett, who is 96 years old, will continue to be known as the chairman emeritus and stay with the board of directors of Berkshire Hathaway. The new chairman of the corporation will be Howard G. Buffett, the son of Warren Buffett, who has been a Berkshire director since 1993.
The move is another major step in Berkshire Hathaway’s long-planned leadership transition. Greg Abel took over as chief executive earlier in 2026, while Buffett continued to remain involved with the company and its investment decisions.
Buffett’s New Role At Berkshire Hathaway
Despite Buffett’s resignation from the position of the chairman, he is not going to leave Berkshire Hathaway altogether. As chairman emeritus, he will be remaining on the company’s board and using his knowledge and expertise to guide the company. According to Berkshire, Buffett will be continuing to lend his experience in the new position.
In a letter addressed to the shareholders of the company, Buffett made reflections on his long-term cooperation with the organization. “I have been working with Berkshire since 1965,” Buffett stated, claiming that despite being with the company for more than 60 years, it remained his best job.
Additionally, he expressed trust towards the new management structure in the company and stated that Greg Abel would be running the company, while Howard Buffett would be protecting the company’s values and culture.
Howard Buffett Takes Over As Chairman
Howard Buffett will now serve as chairman of Berkshire Hathaway’s board.
He has been a member of the board since 1993, giving him more than three decades of experience with the company. His role is expected to focus largely on preserving the culture established by his father rather than running Berkshire’s day-to-day operations.
Greg Abel will continue as CEO and remain responsible for managing the company’s operations.
The leadership transition has therefore been divided into two key roles: Abel will run the business, while Howard Buffett will oversee the board and help protect Berkshire’s long-standing culture.
From A Struggling Textile Company To A Global Conglomerate
However, Buffett assumed control of Berkshire Hathaway in 1965, when it was mainly connected to the declining textile business of New England.
Through the years, he turned it into a diverse conglomerate that operates and invests in insurance, railroads, energy, manufacturing, retail, and consumer products.
It includes companies like GEICO, BNSF Railway, Dairy Queen, Duracell, See’s Candies, and many more industrial and energy companies.
The Berkshire Hathaway stock portfolio also consists of large stakes in publicly held firms, whose investment choices become a topic of interest for all international markets.
Berkshire’s Extraordinary Investment Record
Buffett’s tenure is closely linked to Berkshire Hathaway’s long-term financial performance.
According to Berkshire’s own annual report, from 1965 through 2025, the company’s per-share market value recorded a 19.7% compounded annual gain, compared with 10.5% for the S&P 500 including dividends.
The figures help explain why Buffett became such an influential figure in global investing and why Berkshire’s annual shareholder meetings attracted investors from around the world.
Buffett’s Philanthropy
Buffett has also committed a significant portion of his wealth to philanthropy.
Since 2006, he has donated tens of billions of dollars worth of Berkshire Hathaway shares to charitable organisations. His philanthropic plans have continued alongside his work at Berkshire.
Even after stepping down from the chairmanship, Buffett is expected to remain a significant figure in the company’s story because of his long association with Berkshire and his continued position on its board.
A New Chapter For Berkshire Hathaway
This latest change in leadership completes another crucial step in Berkshire Hathaway’s succession plan.
Having already been transferred the CEO role to Greg Abel, Buffett’s elevation from chairman to chairman emeritus ensures the company is moving into a new era, while remaining connected to its founding figure through his son.
While Buffett’s letter to the shareholders seemed to indicate his confidence in future developments, the new position will enable him to remain connected to Berkshire, while allowing the reins of power and responsibility to be passed on to the new generation.
For Buffett, who has built Berkshire since 1965, this change means a new era rather than leaving the company.
