Buffett Completes Succession Plan
By The Rational Walk on September 18, 2026

“The highest form which civilization can reach is a seamless web of deserved trust. Not much procedure, just totally reliable people correctly trusting one another.”

— Charlie Munger

Berkshire Hathaway has announced that Warren Buffett will step down as Chairman, effective immediately. Mr. Buffett will remain a member of Berkshire’s Board of Directors and has been named Chairman Emeritus. His son, Howard Buffett, was named Chairman. Susan Decker will remain Lead Independent Director and Greg Abel will continue to run the company as Chief Executive Officer.

These actions complete Berkshire Hathaway’s long-anticipated succession plan. Warren Buffett could still have a role to play as Chairman Emeritus. However, in most organizations, an emeritus title implies that an individual is no longer active. Mr. Buffett left the door slightly open in his letters, stating that “I still have the best job in the world.” He did not mention serious health conditions in his letter, aside from general comments on aging, so hopefully he will be able to serve as Chairman Emeritus for many years to come.

After taking over as CEO on January 1, 2026, Greg Abel sought to meet the unique challenge he faced by explaining his approach to managing Berkshire in his first annual letter to shareholders. Most notably, Mr. Abel was responsible for Berkshire’s acquisition of Taylor Morrison, which closed in July, and he resumed repurchases during the second quarter."

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