Buffett Steps Down as Berkshire Chairman, Son Howard to Succeed Him

Warren Buffett has stepped down as chairman of Berkshire Hathaway (BRK.A), ending more than five decades leading the conglomerate he built. He said his son Howard will become chairman, charged with protecting Berkshire's culture and values, which Buffett has called more valuable than anything on the balance sheet. Greg Abel, roughly 30 years Buffett's junior, took over as CEO in early 2026. Buffett wrote that Abel has already handled decisions that truly matter and has never given him cause for doubt. In his final Thanksgiving letter as CEO, Buffett urged shareholders to keep learning and to model their lives on the eulogy they hope to earn. He also called on incoming leaders not to cling to power after death, saying those who have tried rarely ended well. Buffett, 96, has said he will still communicate with shareholders through annual letters, describing his exit as a quiet step back.