Buffett will remain chairman at Berkshire Hathaway when Abel to take over as CEO in 2026

Billionaire Warren Buffett will remain chairman of Berkshire Hathaway when vice chairman Greg Abel takes over as CEO to begin 2026.

The board of directors at the cash-rich conglomerate voted Sunday to keep the legendary 94-year-old investor as head of the board, a decision likely to relieve investors worried about Berkshire's remarkable winning streak amid tariff shocks, financial turmoil and a possible recession.

The board in the same meeting also approved Buffett's chosen successor as CEO, veteran Berkshire executive Greg Abel, 62. In a surprise announcement Saturday, Buffett said he would step down from that top spot by the end of the year.