Warren Buffett Steps Down as Berkshire Hathaway CEO

Omaha, NE, January 2, 2026-Warren Buffett served his final day as chief executive officer of Berkshire Hathaway on December 31, closing a nearly 60-year tenure that reshaped the company and influenced generations of investors. 

Buffett, 95, took control of Berkshire in 1965 and transformed it from a struggling textile manufacturer into a diversified conglomerate spanning insurance, railroads, energy, manufacturing and consumer brands.

He announced in May 2025, during Berkshire Hathaway’s annual shareholder meeting, that he would step down as CEO as part of a long-planned succession process. The announcement marked a milestone moment for shareholders who have closely followed Buffett’s leadership and annual guidance for decades.

Berkshire’s portfolio includes several businesses with strong ties to the home furnishings and building products sectors. Among them is Shaw Industries, which Berkshire acquired through a majority purchase in 2000 for $2 billion, followed by the acquisition of the remaining shares for $355 million in 2002. Berkshire also owns major home furnishings retailers Nebraska Furniture Mart and RC Willey, both of which operate as independently managed subsidiaries within the Berkshire structure.

Greg Abel, previously vice chairman overseeing Berkshire’s non-insurance businesses, succeeded Buffett as CEO effective January 1. Buffett is expected to continue as chairman, maintaining an advisory role as Berkshire transitions leadership while preserving the decentralized structure and long-term investment philosophy he established.