Warren Buffett will stay on as Berkshire Hathaway’s chairman, board appoints vice chair as new CEO
Warren Buffett will remain chairman of the board of directors at Berkshire Hathaway when Greg Abel succeeds the billionaire investor as the company’s CEO at the end of the year.
Berkshire’s board of directors voted unanimously on Sunday to appoint Abel as CEO effective on Jan. 1, 2026, Berkshire Hathaway said in a news release on Monday. The release stated that Buffett would remain as chairman.
Buffett, 94, announced his plans to step down as CEO on Saturday at Berkshire’s annual shareholders meeting in Omaha, Nebraska.
“I think the time has arrived where Greg should become the chief executive of the company at year end,” Buffett said before receiving a several-minute standing ovation in honor of his decades of service.
Abel, 62, has been vice chair of Berkshire since 2018.
Fox Business’ Chrystopher Mulligan and Brie Stimson contributed to this report.
