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 pivotal leadership transition as Greg Abel officially takes over as CEO.
Abel’s ascension comes during a challenging time for Berkshire. Operating earnings plunged nearly 30% in the fourth quarter of 2025, primarily due to a staggering 54% drop in insurance underwriting profits. These figures raise questions about the company’s immediate future and its ability to maintain growth.
The context surrounding this shift is critical. Since Buffett announced his plans to step down last May, Berkshire has lagged behind the S&P 500 index by over 30 percentage points. Investors are understandably anxious about what this means for their investments.
That anxiety is compounded by recent stock performance. Berkshire’s shares have fallen more than 5% year-to-date, prompting renewed discussions about strategies like stock buybacks. In March, the company resumed buying back shares for the first time since 2024, repurchasing approximately $226 million worth of stock.
Abel himself is demonstrating confidence in Berkshire’s future; he used his entire after-tax salary of $15 million to purchase shares personally. This move could signal to investors that he believes in the company’s long-term prospects despite current challenges.
The upcoming annual meeting is expected to draw around 30,000 shareholders—an impressive turnout that underscores the significance of this event in Berkshire’s history. Yet, many will undoubtedly miss Buffett’s insights and charisma on stage. As Macrae Sykes noted, “Clearly, nobody can replace Warren on the stage.”
Analysts like Bill Stone express caution as well; he remarked, “I think part of it is really hard to expect a whole lot of earnings growth this year.” This sentiment reflects broader concerns about Berkshire’s ability to navigate its new reality without its iconic leader.
As shareholders prepare for this landmark event, uncertainties linger regarding how Abel will steer the company through these turbulent waters and what strategies he will prioritize moving forward.