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Greg Abel to Take Over as Berkshire Hathaway CEO in 2026

CEO

Business Honor
05 May, 2025

Buffett begins long-planned transition as Berkshire holds record $347 billion in cash.

Berkshire Hathaway has announced that Vice Chairman Greg Abel will succeed Warren Buffett as Chief Executive Officer as of January 1, 2026. The board made the decision unanimously, Warren Buffett, who is presently both chairman and CEO, will continue to be chairman.

The transition follows Buffett, who is 94, surprising the shareholders at the conclusion of the company's annual meeting on Saturday. He told them he had requested the board to initiate the CEO succession. Buffett confirmed that Abel, 62, will have complete control over the company's operations and how its capital is utilized. "He's in charge," Buffett said, indicating that Abel will be the primary decision-maker, though Buffett will remain available to counsel him if necessary.

Abel's appointment is viewed as an effort to provide stability at the firm, which Buffett has headed since 1965. During his tenure, Berkshire Hathaway has become a $900 billion company with stakes in railroads, insurance, energy, and technology. The firm also has a record $347 billion in cash, which provides it with the capacity to make significant investments or acquisitions in the future.

Although Berkshire's quarterly results were softer than hoped for—predominantly attributed to reduced insurance profits and wildfire claims—shareholders were calm. Stocks dipped modestly during premarket trade on Monday. The firm also stated that coming trade policies and tariffs in America may introduce a little uncertainty.

In general, investors appear to be confident in the leadership transition. With Buffett remaining chairman and Greg Abel assuming day-to-day operations, is expected to continue its strong path forward.