Warren Buffett and Greg Abell Walkthrough at the Berkshire Hathaway Annual Shareholders Meeting held in Omaha, Nebraska on May 3, 2025.
David A. Grogen | CNBC
Berkshire Hathaway The roles of the chairman and chief executive have formally been separated. This is a long-standing move that paved the way for Greg Abel to take over Warren Buffett as CEO at the beginning of 2026.
The Omaha-based conglomerate said in the new regulator’s submission that the board voted on September 30 to amend the two top-level roles that will soon be effective. Buffett, who has been operating Berkshire since 1965, remains the chairman of the board, and Abel, now the vice-chairman of the non-insurance business, will take over as CEO on January 1, 2026.
The move was first announced by 95-year-old Buffett at the end of Berkshire’s annual shareholders meeting in May, and many were surprised. Shortly after the initial announcement, the Berkshire Board of Directors unanimously approved Abel’s appointment.
Buffett, even at his upper age, is probably still active in the conglomerate. Just earlier this week, Berkshire announced it would acquire Oxychem, Occiden’s petroleum chemicals arm, with a full-speed transaction of around $9.7 billion. It marks Berkshire’s biggest deal in three years.
Abel, 63, has been considered Buffett’s heir ever since the late Berkshire vice president, Charlie Munger, publicly identified him as his chosen successor in 2021.
Since 2018, Abel has been vice-chairman of Berkshire’s non-insurance business and oversees rail, utility, energy, manufacturing and retail.
