Berkshire Hathaway appoints Greg Abel as CEO from 2026; Warren Buffett to remain as chairman
Berkshire Hathaway (NYSE:BRK.A, BRK.B) has unanimously voted to appoint Greg Abel as its next president and chief executive officer, effective 1 January 2026, while confirming that Warren Buffett, 94, will remain chairman of the board.
The announcement came after Buffett surprised shareholders at the close of Berkshire’s annual general meeting on Saturday by revealing his plan to recommend Abel as his successor in the CEO role. Until Sunday, it was unclear whether Buffett would also relinquish the chairman title.
Abel, currently vice chairman overseeing Berkshire’s non-insurance businesses and chair of Berkshire Hathaway Energy, has been the designated CEO-in-waiting since 2021. The formal board vote, first reported by CNBC, solidifies that transition timeline.
Buffett, who has led the conglomerate since 1965, said that Abel would have final authority on company operations and capital deployment once the leadership change takes effect. However, Buffett suggested he would remain active in supporting major strategic decisions, especially in volatile markets.
“I could be helpful, I believe, in certain respects, if we ran into periods of great opportunity or anything,” Buffett said on Saturday.
Berkshire shareholders may take comfort in Buffett’s continued presence amid market uncertainty and geopolitical risks. The company currently holds over US$347bn in cash and short-term securities, positioning it to act swiftly on large-scale investments or acquisitions.
Despite softer-than-expected quarterly earnings released over the weekend and caution around the potential impact of tariffs, Berkshire shares remained resilient. The stock closed at a record high on Friday, valuing the company at more than US$1.1tn.
On Monday, Class B shares fell 5.12%.
