Warren Buffett, 96, has stepped down as chairman of Berkshire Hathaway, a position he held since 1970, and become chairman emeritus while remaining on the board, according to the company and reported by NPR, the New York Times and the Washington Post. His son, Howard G. Buffett, has been named the new chairman.

The change closes out a succession process Buffett engineered over decades, separating day-to-day management from family stewardship of Berkshire's culture. The main open question is whether investors and business partners see this as seamless continuity or as the start of a less certain era for a company built almost entirely around one man's judgment.

Warren Buffett became Berkshire Hathaway's chairman in 1970 and served as chief executive until the end of 2025, when Greg Abel, his longtime deputy, took over as CEO. Berkshire's succession plan, disclosed in SEC filings years earlier, called for a non-family executive to run the company while a Buffett family member would eventually serve as non-executive chairman to help preserve its culture. Howard Buffett has served on Berkshire's board for more than 30 years and is described as his father's closest advisor on values and principles.

1. 1970Buffett becomes chairman. Warren Buffett became Berkshire Hathaway's chairman, a role he would hold for more than 50 years. Source
2. 2018Abel named vice chairman. Greg Abel, who had rebuilt Berkshire's MidAmerican utility into Berkshire Hathaway Energy, was named vice chairman of Berkshire Hathaway. Source
3. 2021Abel confirmed as CEO successor. Berkshire confirmed Abel as Buffett's successor after former vice chairman Charlie Munger mentioned it at the annual meeting. Source
4. May 3, 2025Buffett announces CEO succession. Buffett announced he would step down as CEO by the end of 2025, naming Greg Abel as successor and designating Howard Buffett to eventually become non-executive chairman. Source
5. January 1, 2026CEO transition takes effect. Greg Abel formally took over as Berkshire Hathaway's CEO, with Buffett remaining chairman of the board. Source
6. May 2026Buffett attends annual meeting as audience member. For the first time in six decades, Buffett attended Berkshire's annual meeting without leading it, in what was described as the first full public test of CEO Greg Abel. Source
7. September 18, 2026Buffett steps down as chairman. Berkshire's board elected Howard G. Buffett as chairman, and Warren Buffett was named chairman emeritus, remaining on the board. Source

Berkshire Hathaway's CEO succession (announced May 2025, effective January 2026). This chairman handover is the second phase of the same long-disclosed succession plan that first split off the CEO role to Greg Abel, a non-family executive, while reserving governance stewardship for a Buffett family member.

Where the comparison breaks down: The CEO transition gave full operating authority to an outsider vetted for decades inside the business, while the chairman transition gives a governance and values-oversight role to a family member who, per Berkshire's own filings, was never intended to manage the company.

• The reporting is only hours old, so some details of the transition may still be clarified or corrected.
• It is not yet clear how active a role Howard Buffett will take beyond the values-stewardship function the succession plan envisioned.
• Longer-term market and shareholder reaction to the change has not yet had time to unfold.

Watch for Berkshire's next shareholder letter or SEC filings for more detail on how responsibilities are divided between Howard Buffett as chairman and Greg Abel as CEO, and how markets respond in the following days.

• NPR: Warren Buffett steps down as Berkshire Hathaway chairman · Headline and summary · 18 September 2026
• New York Times: Warren Buffett Steps Down as Berkshire Chairman, Names Son to Replace Him · Headline and summary · 18 September 2026
• Washington Post: Warren Buffett, 96, steps down as chairman of Berkshire Hathaway · Headline and summary · 18 September 2026

Read the original reporting at the links above. Our analysis can be wrong and may change as evidence develops.

• Who is Greg Abel, the executive picked to be successor to Warren Buffett? — Associated Press
• Who is Greg Abel, Warren Buffett's choice to replace him as CEO of Berkshire Hathaway? — CBS News
• Why Warren Buffett didn't choose his son as CEO of Berkshire Hathaway — People Matters
• Buffett Succession: A New Era for Berkshire Hathaway — Global Finance Magazine