OMAHA (Sept. 18, 2026) — Berkshire Hathaway said Friday that Warren E. Buffett has been named Chairman Emeritus, effective immediately, and will remain a director, while the board elected his son Howard G. Buffett — a Berkshire director since 1993 — as Chairman of the Board.

In a company release and shareholder letter dated Sept. 18, Berkshire said Lead Independent Director Susan L. Decker will continue in that role. CEO Greg Abel, who succeeded Buffett as chief executive earlier this year, said Warren’s impact “is without parallel in the history of American business” and that Howard will be “guardian” of Berkshire’s culture and values.

Buffett, who turned 96 recently, wrote that he has served Berkshire since 1965 and that “the timing is right to complete the transition.” “Greg runs the company; Howard will guard its culture and values — both worth more than anything on our balance sheet,” he said. “Think of Howard as a policy the shareholders own and hope never to claim against.” He closed: “Father Time always wins. He has, however, been generous with me.”

Succession already in motion

Buffett stepped down as CEO earlier in 2026 in favor of Abel but had kept the chairman title. Friday’s move finishes the board-level handoff while keeping Buffett on the board as emeritus. Howard Buffett has led the Howard G. Buffett Foundation since 1999 and previously served as a U.N. World Food Programme Goodwill Ambassador Against Hunger; Berkshire’s release lists prior public-company board service including Coca-Cola, ADM, and ConAgra.

Reuters and NBC News confirmed the announcement Friday morning from Berkshire’s statement. The move is corporate succession, not a markets halt — Abel remains CEO and Buffett remains a director and large shareholder.

Dated Friday, Sept. 18, 2026: Buffett → Chairman Emeritus; Howard G. Buffett → Chairman; Abel remains CEO; Decker remains lead independent director.

Sources