Warren Buffett steps down after six decades at Berkshire - 'Father Time always wins'
Warren Buffett has stepped down as chairman of Berkshire Hathaway, transitioning the role to his son Howard while retaining an advisory position as chairman emeritus. This move completes a long-planned leadership transition that began nine months ago when Greg Abel assumed the chief executive role. The 96-year-old investor cited the natural passage of time as the reason for his departure from the top board post.
- ▪Warren Buffett is moving into an advisory role as chairman emeritus while remaining on the company board.
- ▪Greg Abel has been serving as chief executive for nine months, managing corporate strategy and capital decisions.
- ▪Howard Buffett, who has been a director since 1993, will focus on guarding the firm's culture and values as the new chairman.
- ▪Berkshire Hathaway is a $1.1 trillion global conglomerate that owns brands like GEICO, Dairy Queen, and BNSF railway.
- ▪Buffett built the company into a major investment powerhouse using a value investing strategy focused on long-term holding.
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| Original publisher | BBC News — Business |
| Canonical URL | https://www.bbc.co.uk/news/articles/cvj64dl1w6yno?at_medium=RSS&at_campaign=rss |
| Publication time | Fri, 18 Sep 2026 17:15:02 GMT |
| Retrieval time | 2026-09-18T17:28:45.325Z |
| Last seen | 2026-09-18T17:28:45.325Z |
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Warren Buffett steps down after six decades at Berkshire - 'Father Time always wins' Image source, Getty ImagesImage caption, Howard Buffett's main duty as chairman will be guarding the firm's "culture and values."ByFrancisco VelasquezBusiness reporter, Reporting fromNew YorkPublished13 minutes agoWarren Buffett has stepped down as chairman of Berkshire Hathaway, handing over leadership to his son Howard in the final chapter of a long-planned transition at the US business giant. At 96, the world-famous investor will move into an advisory role as chairman emeritus and remain on the company board to offer his "judgement and perspective", according to a letter to shareholders, external.
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