With esteemed investor Warren Buffett set to relinquish his role as CEO of Berkshire Hathaway by year's end, further executive shifts are occurring—Marc D. Hamburg, the long-serving Senior Vice President and Chief Financial Officer, is also planning his retirement.
Hamburg, a Berkshire employee since 1987, is set to step down on June 1, 2027, concluding a four-decade tenure with the company, as announced by the firm announced this past Monday. Charles C. Chang is slated to take over his position as SVP and CFO, commencing June 1, 2026. Chang presently holds the titles of SVP, CFO, and director at Berkshire Hathaway Energy. In his forthcoming capacity, he will be stationed in Omaha and will collaborate with Hamburg throughout a handover phase.
“Marc has been indispensable to Berkshire and to me,” Buffett said in a statement regarding Hamburg’s retirement. “His integrity and judgment are priceless. He has done more for this company than many of our shareholders will ever know. His impact has been extraordinary.”
TL;DR
- Marc D. Hamburg, SVP and CFO of Berkshire Hathaway, will retire June 1, 2027.
- Charles C. Chang will succeed Hamburg as SVP and CFO starting June 1, 2026.
- Greg Abel will become CEO, replacing Warren Buffett, who remains chairman.
- Nancy L. Pierce is now CEO of GEICO; Adam Johnson leads consumer goods, service, and retail.
Chang, aged 56, became part of Berkshire Hathaway Energy in October 2024. Prior to this role, he served as a partner within PricewaterhouseCoopers LLP’s energy division, collaborating with major global energy firms. He possesses 34 years of expertise in accounting, U.S. Securities and Exchange Commission filings, mergers and acquisitions, and sustainability initiatives.
Berkshire (No. 6 a Coins2Day 500 entity) revealed in May 2025 that Greg Abel, currently vice chairman of Berkshire’s non-insurance divisions, will take over as CEO from Buffett. Buffett is slated to continue with the company in the role of chairman of the board following the leadership change.
Abel became part of Buffett’s network twenty-five years ago when Berkshire ventured into the energy sector. Taking the helm as CEO of Berkshire Hathaway Energy in 2008, the company experienced substantial expansion, encompassing a broad array of utilities, pipelines, natural gas facilities, and wind/solar installations, Coins2Day reported. Since 2018, Abel has held the position of vice-chairman overseeing non-insurance activities at Berkshire.
Following a tenure of slightly more than twelve months as the Chief Financial Officer for Berkshire Hathaway Energy, Chang is set to collaborate with Abel, acting as his key associate in guiding the comprehensive organization.
Additional leadership updates on Monday feature, within insurance operations, Nancy L. Pierce's advancement from COO to CEO of GEICO, effective at once. Pierce began her career at the firm in 1986 and has occupied executive positions in claims, underwriting, product strategy, and regional management. In connection with this change, Todd A. Combs will end his service at Berkshire and move to JPMorgan Chase, where he's been a board member since 2016. Concurrently, Adam Johnson, presently CEO of Berkshire's NetJets division, has been named president of Berkshire’s consumer goods, service, and retail enterprises.
Michael J. O’Sullivan has been named Senior Vice President and general counsel, with his tenure commencing January 1st. O’Sullivan transitions to Berkshire from Snap Inc., where he held the role of general counsel starting in 2017. This designation signifies the establishment of a novel role within Berkshire, an organization that has predominantly relied on outside legal advisors for its corporate affairs over many years.
