Warren Buffett steps down as Berkshire Hathaway chairman

Source: www.axios.com · Section: politics · Bias: Center · Published: Fri, 18 Sep 2026 10:44:50 GMT

Warren Buffett will step down as chairman of Berkshire Hathaway, less than a year after handing over the CEO reins, the company said Friday.The big picture: The "Oracle of Omaha" is 96, and his insurance-to-railroads conglomerate is moving onto a new generation, with his son Howard as chairman. What they're saying: Buffett, in a brief letter to shareholders, said the time was right to step aside from leading the board, after transitioning the CEO role to Greg Abel earlier this year. "Greg runs the company; Howard will guard its culture and values – both worth more than anything on our balance sheet," Buffett wrote."Think of Howard as a policy the shareholders own and hope never to claim against."Zoom in: Berkshire said Warren Buffett would become "chairman emeritus" and remain on the board of directors.Long-time board member Susan Decker, the former president of Yahoo, will remain lead independent director. By the numbers: Berkshire shares were flat in pre-market trading on the news.The stock has underperformed this year, rising just 1% versus a gain of about 12% for the S&P 500. If that doesn't change, it'd mark the fifth time in the last 10 years that Berkshire underperformed that benchmark. While Berkshire has beaten the S&P by nearly 10 percentage points since 1965, in the last decade it's lagged the index by half a point or so. Editor's note: This story has been updated with new details throughout.

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