Financial Services
Warren Buffett steps down as Berkshire chair, hands the role to son Howard
Source: Financial Times, 18 Sep 2026
Berkshire Hathaway has named Howard Buffett — the 71-year-old second of Warren Buffett's three children and a company director since 1993 — as its new chair. Warren, 96, becomes chair emeritus, eight months after Greg Abel took over as chief executive, completing the succession at a $1.1tn conglomerate Warren built from a failing New England textile mill in 1965. In his letter to shareholders, Warren wrote: "Greg runs the company; Howard will guard its culture and values — both worth more than anything on our balance sheet."
That's a communications decision as much as a governance one. Rather than simply announcing who is arriving, Warren named the specific division of responsibility — operations to Abel, culture to Howard — which tells the market exactly what is changing and, just as precisely, what isn't. A vague promise of continuity invites scepticism; a named mechanism for protecting it doesn't.
When you next hand over leadership, resist stopping at the announcement of who's in charge. State, specifically, which part of the organisation the incoming person is there to protect — and which part belongs to someone else. A title tells people what changed. A mandate tells them what didn't.