As the year draws to a close, Warren Buffett’s investment company Berkshire Hathaway has shuffled the leadership ranks just before the sage of Omaha passes the role of leadership to vice chairman Greg Abel, as per an announcement dated December 8th, 2025.
The update comes after Buffett said in a letter that he will no longer be writing the annual report and that he will be stepping up contributions to his children through share donations made to their non-profit organisations.
Multiple appointments have been made as the firm heads into a new year. NetJets CEO Adam M Johnson is now president of the company’s consumer products, service, and retailing businesses. He is expected to oversee 32 CEOs who all lead separate companies in the segments mentioned above.
“Adam is an accomplished leader with a proven ability to deliver long-term shareholder value,” said Gregory Abel in the press release.
To manage the vehicle insurance firm GEICO—which is wholly owned by Berkshire—Nancy L. Pierce has been appointed CEO. She will be transitioning from the role of chief operating officer.
The transition to new roles also comes with notable exits from the firm. GEICO’s current CEO Todd A. Combs will be leaving to join on as a board member of J.P. Morgan. He has held on to the position since 2020.
“Todd made many great hires at GEICO and broadened its horizons. JPMorgan, as usually is the case, has made a good decision,” said Buffett.
Finally, Charles C Chang will take on the role of Chief Financial Officer from June next year. He will be replacing Marc D. Hamburg, who has been CFO of Berkshire Hathaway for close to forty years now.