Berkshire Hathaway Votes To Separate CEO And Chairman Roles, Warren Buffett To Continue As Chairman

Berkshire Hathaway Inc. (BRK.A) (BRK.B) on Friday stated in a filing with the U.S. Securities and Exchange Commission (SEC) that it has voted to amend the company’s bylaws, effective immediately, to separate the role of the Chairman of the Board of Directors from the role of the CEO.

In its filing, Berkshire Hathaway stated that Warren Buffett will continue to serve as the company’s chairman, while Greg Abel will assume the role of CEO on January 1, 2026.

In May, Berkshire’s board voted unanimously to appoint Abel as the company’s CEO, succeeding Buffett.

Berkshire’s Class B shares were up 0.84% in Friday morning’s trade, while its Class A shares were up 0.69%. Retail sentiment on Stocktwits around the company trended in the ‘bearish’ territory.

Buffett announced his decision to step down as Berkshire’s CEO at the end of the company’s annual shareholder meeting in May, but said that he would be available to help the company wherever needed. “I could be helpful, I believe, in that in certain respects, if we ran into periods of great opportunity or anything,” Buffett said.

On Thursday, Berkshire announced its largest deal since 2022, acquiring Occidental Petroleum Corp.’s (OXY) OxyChem for $9.7 billion, months ahead of Buffett stepping down as the company’s CEO. Berkshire had acquired insurance provider Alleghany for $11.6 billion.

Berkshire is also the top institutional holder in Occidental Petroleum, with a stake of 26.91% as of June 30, 2025. The company expects its OxyChem transaction to close in the fourth quarter of 2025, subject to regulatory approvals.

Also See: Goldman CEO David Solomon Warns Of Stock Market ‘Drawdown’ Over Next 2 Years, Similar To ‘Dotcom Bubble’ Era: Report

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