Warren Buffett Officially Steps Down
Published January 6, 2026 at 11:55 AM · News Releases and Bulletins
Warren Buffett gained control of Berkshire Hathaway in 1955. In the 60 years since, the value of Berkshire Hathaway stock has risen 6,100,000%.
Not bad.
On Monday, January 5, 2026 the cost of one share of Berkshire Hathaway stock is $748,250. Definitely unaffordable for over 90% of us. Buffett didn’t do too badly at all and after over 60 years, the 95 year old Buffett is stepping down as Berkshire Hathaway’s CEO.
The 63 year old Greg Abel has taken over as CEO. Buffett will continue in his role as Berkshire Hathaway’s board chairman. He will also continue going to the office five days a week to give Abel access to his financial wisdom if it is needed.
Buffett has been Abel’s long-time mentor.
Another Berkshire Hathaway change is at the insurer, GEICO. Vice-chairman of Operations Ajit Jain said the new GEICO CEO is Nancy Pierce. Until being named as CEO, Pierce served as GEICO’s chief operating officer.
“Nancy knows the business inside and out. She’s practical, decisive and focused on results. I have full confidence in her ability to move GEICO forward,” Jain said and noted she’s replacing Todd Combs who is moving to JPMorgan Chase where he has served as a board director since 2016.
As part of the change at GEICO, Todd A. Combs will leave Berkshire Hathaway and move to JPMorgan Chase & Co., where he has served as a board director since 2016.
Source link: CBS News — https://bit.ly/4sp3H3T
Source link: Insurance Business America — https://bit.ly/3N0ascb