Warren Buffett steps down as Berkshire Hathaway chairman: Here's who will take over and what all will change

Warren Buffett is relinquishing his position as chairman of Berkshire Hathaway following more than five decades in the role.

Warren Buffett has announced his transition from chairman to chairman emeritus of Berkshire Hathaway after 50 years. His son, Howard, will now serve as chairman. (AP, File)The organization announced on Friday that the 96-year-old Buffett will assume the title of chairman emeritus and will commence his new position immediately. His son, Howard, will assume the position of chairman at Berkshire Hathaway. Howard Buffett has maintained his position as a Berkshire Hathaway board member since 1993.

Warren Buffett will continue to serve as a director. He had held the position of Berkshire Hathaway's chairman since 1970.

“Father Time always wins,” wrote Buffett. “He has, however, been generous with me. He has given me the opportunity to see Berkshire reach a point where I am more confident than ever about what lies ahead.”

The 96-year-old legendary investor resigned from his role as CEO of the organization in the late last year. He was replaced by Greg Abel. Susan Decker will maintain her position as the principal independent director.

Last year, Buffett declared he would exit his role as chief executive officer.

Greg Abel, Chief Executive Officer, said on behalf of the entire Berkshire Board of Directors: “Warren’s impact on Berkshire and its owners is without parallel in the history of American business. The culture Warren built and the values he championed will remain at the heart of Berkshire, and Howard will be their guardian. We are grateful to Howard for the care, discipline, and deep understanding of Berkshire he will bring to his new role, and to Sue Decker for her continued leadership and valued contributions as Lead Independent Director.”

"As Chairman Emeritus, Mr. ‌Buffett ⁠will remain a member of the Board of Directors ​and ​will ⁠continue to offer his valued ​judgment and ​perspective," ⁠Berkshire said in a statement.

Shweta Kukreti has over 8 years of experience in covering Indian and world politics. She joined the Hindustan Times in 2024 and is primarily assigned to the US desk. She currently works as Deputy Chief Content Producer and reports on a wide range of topics, including US politics, immigration issues (especially H-1B visa) and major global events. Shweta strongly emphasizes team operations, which encompasses monitoring news, delegating tasks, editing, developing comprehensive coverage strategies, and crafting engaging, and data-informed narratives. She received the Digi Star Award at the Hindustan Times within a year of joining for her broad coverage of US politics. In 2025, she earned both a promotion and a redesignation, a significant achievement recognising her contributions and the strong value she brings to the team. She has previously worked with the Indian Express, HTDS, ANI and Republic World. Seniors in all the media organisations recognised her work. Regarding education, she earned a BA (Hons.) in Political Science and a master's degree from Delhi University, and she pursued a PG Diploma in English Journalism from the Indian Institution of Mass Communication (IIMC). She also holds a diploma in Women's Empowerment and Development from IGNOU University and a French certification course from Alliance Française de Delhi. If not working, you can find her exploring the hills and engaging in adventurous activities in Rishikesh and Himachal Pradesh. She loves to play badminton, volleyball, and chess, and spend time with her friends and family. She also enjoys spiritual activities.Read More