Warren Buffett is stepping down as Berkshire Hathaway chairman after more than 50 years in the role.
The 96-year-old investor transitions to Chairman Emeritus effective immediately. He will remain a member of the Board of Directors.
The board elected Howard G. Buffett as the new non-executive Chairman. Howard Buffett has served as a company director since 1993.
This transition follows Greg Abel assuming the CEO role in late 2025. These changes solidify the conglomerate’s long-standing succession plan.