Succession Details
New CEO: Greg Abel, who has overseen Berkshire’s non-insurance operations since 2018, will formally take over as CEO on January 1, 2026.
Buffett's Future Role: Buffett, now 95, will remain Chairman of the Board. He has indicated he plans to continue visiting the office and contributing investment ideas.
Leadership Team: To manage his increased responsibilities, Abel has promoted NetJets CEO Adam Johnson to oversee all consumer, service, and retail businesses, while Abel continues to supervise the energy, industrial, and manufacturing units.
Legacy and State of the Company
Performance: Under Buffett’s leadership since 1965, Berkshire’s Class A shares saw a cumulative return of approximately 6,060,000% (as of late December 2025).
Financial Position: Buffett leaves the company with a record cash reserve of $382 billion, providing significant capital for future acquisitions under Abel’s leadership.
Recent Shifts: Ahead of the transition, the firm significantly trimmed its core positions in Apple and Bank of America throughout 2025.
Key Executive Departures
As part of the broader leadership transition:
Todd Combs, a top investment lieutenant and CEO of Geico, is leaving to join JPMorgan.
Marc Hamburg, the longtime Chief Financial Officer, will retire in June 2027 and be succeeded by Charles Chang.
Nancy Pierce has been named the new CEO of Geico, effective immediately.
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