Quick answer: Warren Buffett is no longer Berkshire Hathaway’s board chair, but he has not left Berkshire. On September 18, 2026, Berkshire named him Chairman Emeritus; he remains a director. Howard G. Buffett became Chairman of the Board, Greg Abel remains Chief Executive Officer, and Susan Decker remains Lead Independent Director. For BRK.A and BRK.B shareholders, the immediate change is governance—not the ownership claim represented by the shares.
What matters most: Berkshire’s own announcement says Greg Abel runs the company, while Howard Buffett’s role is centered on board leadership, culture and values. That distinction is more useful to shareholders than treating the transition as if Berkshire suddenly had a new operating CEO.
| Role | Before Sept. 18, 2026 | After Sept. 18, 2026 | What shareholders should infer |
|---|---|---|---|
| Warren Buffett | Chairman Emeritus-designate / longtime Berkshire leader | Chairman Emeritus and director | Still involved at the board level and available for judgment, but no longer board chair |
| Greg Abel | CEO | CEO | Operating leadership did not change in this announcement |
| Howard G. Buffett | Director | Chairman of the Board | Board leadership changes; Berkshire describes his role as protecting culture and values |
| Susan Decker | Lead Independent Director | Lead Independent Director | Independent-board leadership remains in place |
What changed for BRK.A and BRK.B shareholders?
The corporate titles changed. The underlying businesses, Berkshire’s share classes, and the economic ownership represented by BRK.A and BRK.B did not change because of the announcement. A shareholder does not need to exchange shares or take any administrative action simply because Berkshire changed its chairman.
The more important question is how the new governance structure works in practice. Buffett’s September 18 shareholder letter says Greg Abel has been making the decisions that matter and that Howard Buffett will guard Berkshire’s culture and values. That creates a clearer separation between operating management and board stewardship.
What did not change?
- Greg Abel remains CEO. This announcement did not replace Berkshire’s operating chief.
- Warren Buffett remains a director. Chairman Emeritus is not the same as leaving the board.
- Susan Decker remains Lead Independent Director.
- BRK.A and BRK.B remain claims on the same Berkshire Hathaway enterprise.
- No dividend, buyback, acquisition or capital-allocation policy change was announced simply because the chair changed.
What remains unknown?
A title change cannot answer every investor question. Shareholders still need to watch how Berkshire behaves over time under the Abel–Howard Buffett governance structure.
| Question | What is known now | What requires future evidence |
|---|---|---|
| Capital allocation | Greg Abel remains CEO | How aggressively Berkshire deploys cash, buys back shares, or pursues acquisitions |
| Culture | Howard Buffett becomes chairman | How board stewardship affects Berkshire’s decentralized model over years |
| Buffett involvement | Buffett remains a director and Chairman Emeritus | How frequently his judgment is sought or publicly visible |
| Board independence | Susan Decker remains Lead Independent Director | How the board handles future succession, oversight and major capital decisions |
Why separating CEO and chair matters
A CEO manages the company. A board chair leads the board that oversees management. In some companies those roles are combined; in others they are separated. Berkshire’s latest structure makes the distinction especially visible because Greg Abel remains the operating chief while Howard Buffett becomes board chair.
That does not automatically make Berkshire better or worse governed. The useful test is whether the structure helps preserve disciplined oversight, capital allocation and succession planning without blurring accountability.
A shareholder checklist for the next 12–24 months
- Capital deployment: Track acquisitions, buybacks and cash levels rather than reacting only to headlines about Buffett.
- Operating performance: Follow insurance underwriting, railroad, energy and manufacturing/service operating results.
- Board communication: Watch annual letters, proxy disclosures and major governance changes.
- Succession depth: Pay attention to who receives larger operating and capital-allocation responsibilities below Abel.
- Valuation discipline: Separate Berkshire’s business performance from the price investors are willing to pay for BRK.A or BRK.B.
What not to conclude from the announcement
- Buffett did not leave Berkshire’s board.
- Howard Buffett did not replace Greg Abel as CEO.
- The announcement does not tell investors whether Berkshire shares are cheap or expensive.
- It does not guarantee Berkshire’s future returns will resemble Buffett-era historical results.
FAQ
Is Warren Buffett still involved with Berkshire Hathaway? Yes. Berkshire says he is Chairman Emeritus and remains a member of the board.
Who runs Berkshire Hathaway now? Greg Abel remains CEO. Berkshire’s own shareholder letter says he runs the company.
Who is Berkshire’s chairman? Howard G. Buffett was elected Chairman of the Board effective September 18, 2026.
Do BRK.A or BRK.B shareholders need to do anything? Not because of this governance announcement. The share classes did not require an exchange or conversion.
Primary sources
- Berkshire Hathaway: September 18, 2026 succession announcement and Buffett letter
- Berkshire Hathaway official investor site
Dollar Beacon distinguishes the company’s announced governance facts from future operating outcomes. This article is general investment education, not a recommendation to buy or sell Berkshire Hathaway shares.
Next reading
For a portfolio-allocation question inspired by Buffett’s own estate instructions, see Buffett’s 90/10 Portfolio vs. 60/40. For long-horizon market risk, read What Happens If the Stock Market Crashes Right After You Invest?.