Warren Buffett has officially resigned as chairman of Berkshire Hathaway, marking the final stage of a multi-year succession plan for the $1.1 trillion conglomerate. In a shareholder letter announcing his departure on September 18, 2026, the 96-year-old investor noted that “Father Time always wins,” signaling the conclusion of a leadership tenure that began when he took control of the company in 1965.
Buffett will transition into the newly created role of Chairman Emeritus and will maintain his seat on the company’s board of directors. The board has elected his son, Howard Buffett, 71, to serve as the new Chairman. This move separates the oversight of corporate culture from day-to-day operations, which remain under the control of Greg Abel.
Abel, who assumed the role of CEO earlier in 2026, continues to manage the company’s vast portfolio of subsidiaries and investment decisions. This division of power follows a strategy long signaled by Buffett, where the chairman role focuses on maintaining the “Berkshire culture” while the CEO handles capital allocation and operational performance.
The transition comes as Berkshire Hathaway maintains a dominant market position, with a valuation hovering around $1.1 trillion. Under Abel’s operational leadership, the company has recently executed significant capital deployments, including the $6.8 billion acquisition of homebuilder Taylor Morrison in the second quarter of 2026.
Market Impact and Valuation
Investors have closely watched the gradual removal of the “Buffett premium”—the extra value assigned to shares based on Buffett’s personal involvement. Market data shows Berkshire’s price-to-book ratio adjusted from 1.62 to 1.53 during the CEO transition period.
Howard Buffett’s appointment as chairman provides continuity to the board, where he has served since 1993. His role is specifically defined as a non-executive chairmanship, intended to protect the decentralized structure that allows Berkshire’s diverse subsidiaries to operate with minimal interference from the Omaha headquarters.
The transition of the chairman title completes a phased exit that accelerated in early 2026. While Buffett’s daily influence on the firm’s stock portfolio and massive cash reserves is concluding, his status as Chairman Emeritus ensures he remains a formal part of the organization he transformed from a struggling textile mill into one of the world’s largest corporate entities.