Berkshire Hathaway announced on Wednesday that legendary investor Warren Buffett will retire from his role as chairman, effective January 1, 2027. Buffett, 97, will remain as senior advisor to the board and continue to hold a majority of the company’s voting shares. The board has appointed longtime vice‑chairman Ajit Jain as the new chairman, citing his deep experience in the firm’s insurance and reinsurance operations. In a brief statement, Buffett praised Jain’s “sharp analytical mind and unwavering integrity.” Analysts predict the leadership transition will be smooth, given Berkshire’s decentralized management style, but note that the change marks the end of an era for one of Wall Street’s most iconic figures. The company’s next annual shareholders’ meeting will feature a tribute to Buffett’s six‑decade tenure.
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