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Warren Buffett steps down as Berkshire Hathaway's chairman

Warren Buffett steps down as Berkshire Hathaway chairman — son Howard to take over
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96-year-old investor Warren Buffett is immediately stepping down as chairman of Berkshire Hathaway's board, taking on the title of chairman emeritus. His son — Howard Buffett — will take his place, the legendary investor announced in a letter to shareholders.

Buffett remains a member of the company's board and is still its largest shareholder. The news comes less than ten months after the CEO role at Berkshire Hathaway passed from Buffett to Greg Abel, a decision announced at the annual shareholders' meeting in May 2025.

Buffett had led the company since 1965, turning it into a trillion-dollar conglomerate (about 28.8 trillion crowns). Last year Berkshire's operating profit reached $44.5 billion (almost 945 billion crowns), and the workforce grew to nearly 400,000 people.

Even so, the company's shares have risen just 1% this year, while the S&P 500 index has gained more than 11%. Analysts point to rising oil prices and investors' preference for fast-growing market sectors, which Berkshire has traditionally avoided, as reasons for the lag.

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