Catenaa, Friday, October 03, 2025- Berkshire Hathaway shareholders have voted to formally separate the roles of Chairman and CEO, paving the way for Greg Abel to succeed Warren Buffett.
In a new regulatory filing, the Omaha-based conglomerate said its board voted on September 30 to amend its bylaws to distinguish the two top roles, effective immediately.
Buffett, who has run Berkshire since 1965, will remain chairman of the board, while Abel, currently vice chairman for non-insurance operations, will take over as CEO on January 1, 2026.
The move was first announced by the 95-year-old Buffett at the end of Berkshire’s annual shareholder meeting in May, which took many by surprise. Shortly after the initial announcement, Berkshire’s board unanimously approved Abel’s appointment.
Buffett, even at his advanced age, has likely stayed active at the conglomerate. Just earlier this week, Berkshire announced it is acquiring OxyChem, the chemical arm of Occidental Petroleum, in a roughly $9.7 billion all-cash transaction. It marks Berkshire’s biggest deal in three years.
Abel, 63, has been seen as Buffett’s heir apparent since Charlie Munger, Berkshire’s late vice chairman, publicly identified him as the chosen successor in 2021.
He joined the Berkshire orbit when Berkshire acquired a controlling interest in MidAmerican Energy in 1999, and he later became CEO of the energy firm.
Since 2018, Abel has served as Berkshire’s vice chairman for non-insurance operations, overseeing railroad, utilities, energy, manufacturing, and retail businesses.
