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 as Greg Abel takes over as CEO. This shift raises questions about the future direction of the company and its performance under new leadership.
Documents show that operating earnings fell nearly 30% in the fourth quarter of 2025 due to a staggering 54% drop in insurance underwriting profits. Additionally, Berkshire’s shares have declined more than 5% year to date, trailing the S&P 500 index by over 30 percentage points since Buffett indicated his plans to step down last May.
Sources say that this year’s annual meeting is expected to draw approximately 30,000 shareholders, who will likely be eager to hear from Abel and other key figures, including Ajit Jain and Katie Farmer. Macrae Sykes remarked on Buffett’s unique presence, stating, “Clearly, nobody can replace Warren on the stage.” This sentiment underscores the uncertainty surrounding the leadership transition.
Berkshire Hathaway resumed stock buybacks in March for the first time since 2024, repurchasing roughly $226 million of its stock. In a display of confidence in his new role, Greg Abel used his entire after-tax salary of $15 million to personally buy shares of Berkshire.
Bill Stone pointed out that expectations for earnings growth this year are tempered by recent performance trends: “I think part of it is really hard to expect a whole lot of earnings growth this year.” As such, shareholders may remain cautious as they await clearer signals about future strategies and outcomes.
