For the first time, Warren Buffett will not be the central figure at Berkshire Hathaway’s annual meeting on May 2, 2026 in Omaha, marking a significant leadership transition. Greg Abel has taken over as CEO at the start of 2026.
Key financial facts:
- Operating earnings fell nearly 30% in the fourth quarter of 2025 due to a 54% drop in insurance underwriting profits.
- Berkshire’s shares have fallen more than 5% year to date.
- The company has trailed the S&P 500 index by more than 30 percentage points since Buffett signaled plans to step down last May.
- Berkshire resumed stock buybacks in March for the first time since 2024, repurchasing roughly $226 million of stock.
- Greg Abel used his entire after-tax salary of $15 million to personally buy Berkshire shares.
- The annual meeting is expected to draw around 30,000 shareholders.
Buffett’s absence raises questions about the company’s future direction. Analysts note that it is challenging to expect significant earnings growth this year. Bill Stone remarked, “I think part of it is really hard to expect a whole lot of earnings growth this year.”
Macrae Sykes added, “Clearly, nobody can replace Warren on the stage.” The shift in leadership comes during a period of declining profits and market performance for Berkshire Hathaway.
