American investor Warren Buffett has stepped down as chairman of the board of Berkshire Hathaway and taken on the title of chairman emeritus. The company said the decision took effect immediately on Friday.
Howard Buffett, the investor’s son, was elected the new chairman of the board. He has served on the Berkshire Hathaway board since 1993.
At the same time, 96-year-old Warren Buffett will remain a member of the company’s board and will continue to share his judgment and experience, according to Berkshire Hathaway.
In a message to shareholders, Buffett wrote: “Time always wins. However, it has been kind to me.”
Berkshire Hathaway CEO Greg Abel said on behalf of the board that Buffett’s impact on the company and its shareholders is unmatched in the history of American business. He added that the corporate culture and values established by Buffett will remain at the core of Berkshire.
Howard Buffett has led the Howard G. Buffett Foundation since 1999. Its work is focused in part on global food security and mitigating the consequences of conflicts. He has also previously served on the boards of several major companies.
Earlier, Warren Buffett handed over the role of Berkshire Hathaway chief executive to Greg Abel. According to the company’s annual report, as of the end of February 2026, Abel held the positions of president and CEO of Berkshire, while Buffett continued to chair the board.
Berkshire Hathaway operates across a range of sectors, including insurance and reinsurance, energy, rail transportation, manufacturing, services and retail. Its shares trade on the New York Stock Exchange under the tickers BRK.A and BRK.B.
