Warren Buffett has officially stepped down as chairman of Berkshire Hathaway after 56 years in the role. The company board has appointed him chairman emeritus, a position that allows him to remain on the board without executive responsibilities. His son, Howard Buffett, who has served on the board since 1993, has been named the new chairman.
Greg Abel continues to serve as the chief executive officer of Berkshire Hathaway. He remains responsible for the company's daily operations and investment decisions. Susan Decker will continue her role as the lead independent director. Warren Buffett described the leadership transition as a formality, noting that Abel has been managing key decisions for some time.
Howard Buffett is primarily known for his work in agriculture, food security, and humanitarian efforts, including his leadership of the Howard G. Buffett Foundation since 1999. He has not publicly stated a position on Bitcoin or digital assets. In contrast, Warren Buffett has previously characterized Bitcoin as a gambling token and rat poison.
The company currently holds a record cash reserve of $397 billion. Market reaction to the leadership change was reflected in stock performance, with Class A shares closing at $763,936 on Thursday, marking a 2.10% decline. Class B shares finished at $509.20, down 2.04%, with minimal movement observed in Friday pre-market trading.
