Sept 18 (Reuters) – Warren Buffett stepped down as chairman of Berkshire Hathaway on Friday, handing the top role to his son Howard and completing a historic leadership handover that started with Greg Abel’s appointment as CEO earlier this year.
Investors will likely be keen on how the new leadership steers the $1 trillion-plus conglomerate. Here is a look at its major pillars:
Greg Abel, CEO
Buffett announced Abel’s promotion at Berkshire’s annual meeting, in May 2025. Many Berkshire managers describe the 64-year-old as knowledgeable and compassionate, with a capacity to listen.
Abel, known for his hands-on style, came into the Berkshire fold with its acquisition of MidAmerican Energy in 2000. He turned the unit, since renamed as Berkshire Hathaway Energy, into one of the largest power providers in central and western United States.
After helming that business as its CEO for a decade, Abel was appointed vice chairman in 2018 to oversee Berkshire’s non-insurance businesses — railroad; chemical, energy and industrial companies; and businesses such as Fruit of the Loom and See’s Candies.
He is believed to be a billionaire, selling his 1% stake in Berkshire Hathaway Energy to Berkshire for $870 million in 2022.
Howard Buffett, Chairman
The eldest son of Warren Buffett has served on Berkshire’s board since 1993, gaining deep familiarity with its operations. Now 71, he has held directorships at major companies, including Coca-Cola Co, Archer-Daniels-Midland and ConAgra Foods.
Beyond Berkshire, Howard is a farmer, a former sheriff and leader at a foundation that works towards food security and conflict-mitigation.
Ajit Jain, Vice Chairman
Jain, who Warren Buffett has credited with generating tens of billions of dollars of shareholder value, has long been seen as a potential CEO. But Buffett said he did not want the job.
India-born Jain, whom his boss called a “unique” talent, has day-to-day oversight of Berkshire’s insurance businesses. He has been key in expanding the reinsurance business, with a specialty in pricing high-risk policies such as those covering natural catastrophes.
The eventual retirement of Jain — he joined the Omaha, Nebraska-based company in 1986 — has been closely watched, particularly in the wake of Buffett’s departure. Some media reports earlier this year threw up the name of Gen Re Chairman Charlie Shamieh as a potential successor. He has led the Berkshire-owned reinsurer since 2018.
Adam Johnson, President, Consumer Products
Johnson leads NetJets, the world’s largest private jet operator, and also has day-to-day oversight of Berkshire’s consumer products, services and retail businesses.
He joined the company in 1996 and became the CEO of NetJets in 2015, leading it through a period of sustained growth. During his tenure, the business expanded its global fleet, maintained its lead in the fractional aircraft ownership market and invested in sustainability.
Ted Weschler
The investment manager oversees a significant and growing portion of Berkshire’s massive public equity portfolio. Weschler, along with another key investment manager Todd Combs, were once expected to take over the portfolio, having helped Buffett invest in stocks, but the former CEO had in recent years said Abel could handle it.
Combs left Berkshire in December 2025 for JPMorgan Chase, in a major management shakeup before Abel took over as CEO.
(Reporting by Pritam Biswas in Bengaluru; Editing by Joyjeet Das)
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