Warren Buffett announced on Friday that he is stepping down as Executive Chairman of Berkshire Hathaway, effective immediately, with his son Howard Buffett stepping into the chairman role in a long-planned succession. Buffett, who had already passed the CEO torch to Greg Abel at the end of last year, is now chairman emeritus. The stock barely moved on the news, as Buffett's departure from day-to-day activities was largely priced in after his retirement from the CEO role was announced at Berkshire's May 2025 shareholder meeting. Abel has ended 14 consecutive quarters of net equity selling in the second quarter, spent more on buybacks than Berkshire has in five years, and made a substantial acquisition of a beaten-down homebuilder. Howard Buffett is not playing a day-to-day role in the company; his purpose in the chairman seat is to ensure whoever serves as CEO maintains the culture his father spent six decades building.
Berkshire Hathaway IncBuffett steps down as chairman with son Howard taking over in a planned succession; stock barely moved as it was largely priced in.
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