For the first time, Warren Buffett will not be the central figure at Berkshire Hathaway’s annual meeting on May 2, 2026, in Omaha. This marks a significant leadership transition as Greg Abel takes over as CEO, a role he assumed at the start of this year.
The change comes amid notable challenges for Berkshire. Operating earnings fell nearly 30% in the fourth quarter of 2025, primarily due to a staggering 54% drop in insurance underwriting profits. Furthermore, shares have declined more than 5% year to date and have trailed the S&P 500 index by over 30 percentage points since Buffett indicated plans to step down last May.
This annual meeting traditionally serves as a platform for Buffett’s insights, drawing around 30,000 shareholders. Yet this year, attendees will witness Abel and other leaders like Ajit Jain, Katie Farmer, and Adam Johnson stepping into more prominent roles.
Berkshire resumed stock buybacks in March for the first time since 2024, repurchasing roughly $226 million. Abel demonstrated confidence in the company’s future by using his entire after-tax salary of $15 million to buy shares personally—an action that speaks volumes about his commitment.
The question looms: Can Berkshire navigate these turbulent waters without its iconic leader? Analysts suggest that expectations for significant earnings growth this year may be unrealistic. Bill Stone remarked, “I think part of it is really hard to expect a whole lot of earnings growth this year.” Meanwhile, Macrae Sykes noted, “Clearly, nobody can replace Warren on the stage.” The future remains uncertain as shareholders anticipate how this leadership shift will unfold.
