Berkshire officially separates the roles of Chairman and CEO, paving the way for Abel to succeed Buffett.

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Documents show that Berkshire Hathaway has officially separated the roles of Chairman and Chief Executive Officer (CEO). Media analysis says this highly anticipated move paves the way for Greg Abel to succeed Warren Buffett as CEO in early 2026.

According to a new regulatory filing, Berkshire stated that its board voted on September 30 to approve an amendment to the company bylaws, immediately distinguishing the two top positions. The 95-year-old Buffett, who has led Berkshire since 1965, will continue as Board Chairman, while Abel, currently Vice Chairman of Non-Insurance Operations, will formally become CEO on January 1, 2026.

This decision was first announced by Buffett at Berkshire’s annual shareholders’ meeting in May this year, surprising many at the time. Shortly after the initial announcement, Berkshire’s board unanimously approved Abel’s appointment.

Despite his advanced age, Buffett remains active in company affairs. Earlier this week, Berkshire announced it would acquire Occidental Petroleum’s chemical subsidiary OxyChem for about $9.7 billion in cash, Berkshire’s largest deal in three years.

The 63-year-old Abel has been seen as Buffett’s successor since Charlie Munger, the late Vice Chairman, publicly named him as heir in 2021. Abel joined Berkshire in 1999 when the company acquired a controlling stake in MidAmerican Energy, later becoming CEO of that energy company.

Since 2018, Abel has served as Berkshire’s Vice Chairman of Non-Insurance Operations, overseeing businesses such as railroads, utilities, energy, manufacturing, and retail.

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