End of an Era: Greg Abel Succeeds Warren Buffett at Berkshire’s Helm

The ‘Oracle of Omaha’ Bids Adieu to CEO Role After Six Decades

On Thursday, January 1, 2026, Warren Buffett officially retired as CEO of Berkshire Hathaway, marking the end of an illustrious 60-year tenure. Buffett, who transformed a floundering textile mill into a $1 trillion conglomerate, passed the baton to his chosen successor, Greg Abel. The transition saw Berkshire shares dip by 1.4% on the first trading day of this new chapter.

Despite stepping down as CEO, Buffett will continue to serve as chairman. In a recent interview with CNBC, he expressed utmost confidence in Abel, stating, “I can’t imagine how much more he can get accomplished in a week than I can in a month.” This leadership change comes at a time when Berkshire boasts a record $381.6 billion in cash, following a prolonged period of net equity selling.

Greg Abel: A New Leadership Style

Abel, who came onboard Berkshire in 2000 following the acquisition of MidAmerican Energy, has been the vice chairman of non-insurance operations since 2018. Known for his more hands-on management style, Abel presents a stark contrast to Buffett’s renowned decentralized approach. Despite Buffett announcing his retirement plans in May 2025, Berkshire’s shares have lagged behind the broader market, trailing the S&P 500’s 16.4% gain with a 10.9% rise in 2025—a phenomenon analysts refer to as a “succession discount.”

In his parting letter to shareholders, Buffett reassured, “Greg Abel has more than met the high expectations I had for him when I first thought he should be Berkshire’s next CEO.”

Source: CNBC