Berkshire Hathaway (BRK-B) (BRK-A) announced Friday that Warren E. Buffett has been named chairman emeritus, effective immediately. The board elected his son Howard G. Buffett, a Berkshire director since 1993, as chairman under the company’s long-standing succession plan. Susan L. Decker will continue to serve as lead independent director.
The move completes a transition that began when Greg Abel took over as chief executive on January 1, 2026. Buffett, who turned 96 in August and has served Berkshire since 1965, will remain on the board of directors.
“Father Time always wins,” Buffett wrote in a letter to shareholders attached to the announcement. “He has, however, been generous with me. He has given me the opportunity to see Berkshire reach a point where I am more confident than ever about what lies ahead.”
Abel, speaking on behalf of the board, said: “Warren’s impact on Berkshire and its owners is without parallel in the history of American business. The culture Warren built and the values he championed will remain at the heart of Berkshire, and Howard will be their guardian. We are grateful to Howard for the care, discipline, and deep understanding of Berkshire he will bring to his new role, and to Sue Decker for her continued leadership and valued contributions as Lead Independent Director.”
Howard Buffett, 71, has run the Howard G. Buffett Foundation, a charitable foundation focused on global food security and conflict mitigation, as chairman and CEO since 1999. He spent nearly a decade as a United Nations Goodwill Ambassador Against Hunger for the World Food Programme and has sat on numerous public company boards, including Archer Daniels Midland (ADM), The Coca-Cola Company (KO), ConAgra Foods (CAG), and Lindsay Corporation (LNN). His father drew the division of labor plainly in the letter: Greg runs the company; Howard will guard its culture and values.
The handoff arrives with Berkshire’s market capitalization near $1.09 trillion and the B shares trading around $509, about 12.7 times trailing earnings. The stock has trailed the broader market this year, up roughly 1% in 2026 against a gain of nearly 12% for the S&P 500.
The press release
The following is Berkshire Hathaway's announcement, issued September 18, 2026.
OMAHA, NE (BRK.A; BRK.B). Berkshire Hathaway Inc. today announced that Warren E. Buffett has been named Chairman Emeritus, effective immediately, in recognition of his extraordinary contributions to Berkshire and its owners. As Chairman Emeritus, Mr. Buffett will remain a member of the Board of Directors and will continue to offer his valued judgment and perspective. Consistent with the company’s long-standing succession plan, the Board has elected Howard G. Buffett, a Berkshire director since 1993, as Chairman of the Board. Susan L. Decker will continue to serve as Lead Independent Director.
Warren Buffett’s comments are set forth in the attached letter to Berkshire’s shareholders.
Greg Abel, Chief Executive Officer, stated on behalf of the entire Berkshire Board of Directors: “Warren’s impact on Berkshire and its owners is without parallel in the history of American business. The culture Warren built and the values he championed will remain at the heart of Berkshire, and Howard will be their guardian. We are grateful to Howard for the care, discipline, and deep understanding of Berkshire he will bring to his new role, and to Sue Decker for her continued leadership and valued contributions as Lead Independent Director.”
Howard Buffett has served since 1999 as Chairman and Chief Executive Officer of the Howard G. Buffett Foundation, a charitable foundation focused on global food security and conflict mitigation. He served as a United Nations Goodwill Ambassador Against Hunger for the World Food Programme for nearly a decade. He has been a director of numerous public and private company boards, including Agro Tech, Archer Daniels Midland, ConAgra Foods, The Coca-Cola Company, Coca-Cola Enterprises, FirsTier Financial, and Lindsay Corporation, including as Chairman of the Board.
About Berkshire
Berkshire Hathaway and its subsidiaries engage in diverse business activities including insurance and reinsurance, utilities and energy, freight rail transportation, manufacturing, services and retailing. Common stock of the company is listed on the New York Stock Exchange, trading symbols BRK.A and BRK.B.
Warren Buffett’s letter to shareholders
The release included the following letter from Buffett to Berkshire shareholders, dated September 18, 2026.
To My Fellow Shareholders:
Berkshire has an extraordinary group of shareholders. From the beginning, Charlie and I looked for owners who thought in decades rather than quarters, and we were fortunate to find a great many of you.
Recently, I celebrated my 96th birthday with family and friends, including one of my great-grandchildren, who had just turned one. He’s moving a bit faster than I am these days.
I have served Berkshire since 1965. Sixty-plus years in, I still have the best job in the world. That is not something many people my age can say, and I have never felt better about what comes next.
Part of the reason is Greg. My expectations for him were sky high from the start, and he has exceeded them. He has taken hold of the Chief Executive Officer job in every respect. He has been making the decisions that matter for some time now, and I have not had to think twice about any of them.
So the timing is right to complete the transition. I will become Chairman Emeritus and remain a Director. My son, Howard, will succeed me as Chairman.
Howard has been a Berkshire Director for 33 years. That is a longer apprenticeship than I served before taking the reins at the age of 34. Greg runs the company; Howard will guard its culture and values — both worth more than anything on our balance sheet. Think of Howard as a policy the shareholders own and hope never to claim against.
Howard cares deeply about Berkshire, as do all of our Directors. No company has been or will be more shareholder-minded than Berkshire.
Serving as your Chairman has been the privilege of a lifetime, and I have never taken your trust for granted. Father Time always wins. He has, however, been generous with me. He has given me the opportunity to see Berkshire reach a point where I am more confident than ever about what lies ahead. The company is in excellent hands, and I look forward to remaining a shareholder alongside you.
September 18, 2026
Warren E. Buffett
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