Berkshire Hathaway Names New CFO Amid Wave of Executive Departures

Berkshire Hathaway announced on Monday that Marc Hamburg, the company's longtime senior vice president and chief financial officer, will retire on June 1, 2027, after 40 years of service. Hamburg, who joined Berkshire in 1987, will be succeeded by Charles C. Chang, who was appointed senior vice president and CFO effective June 1, 2026. Chang is currently senior vice president, CFO, and director of Berkshire Hathaway Energy. He will work with Hamburg during a transition period. According to a statement released by Berkshire, Hamburg will remain with the company until June 1, 2027, to ensure a smooth transition of his responsibilities. Chang has been with Berkshire for over 20 years, and his appointment as CFO marks a significant milestone in the company's leadership succession plan. Berkshire's chairman and CEO, Warren Buffett, praised Hamburg's contributions to the company, stating, "Marc has been indispensable to Berkshire and to me. 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 profound, and I am grateful for his dedication and service." The leadership changes come as Buffett prepares to step down as CEO at the end of the year. Berkshire announced in May 2025 that Buffett will be succeeded by Greg Abel, vice chairman of its non-insurance operations. Buffett will remain with the company as chairman of the board after the transition. The CFO turnover at Berkshire is part of a broader trend of executive departures in the Fortune 500, with many companies facing challenges in retaining top talent. Berkshire Hathaway is a multinational conglomerate holding company with a diverse portfolio of businesses, including insurance, retail, and manufacturing. The company's leadership succession plan is closely watched by investors and analysts, who are eager to see how the company will navigate the transition. Chang's appointment as CFO is seen as a positive development, given his experience and expertise in the industry. As the company prepares for the transition, investors will be watching closely to see how the new leadership team will shape the company's strategy and direction. Berkshire's stock price has been relatively stable in recent months, but the leadership changes may have implications for the company's future performance. The company's next earnings report is expected to provide more insight into its financial performance and leadership plans. In a statement, Buffett expressed his confidence in Chang's ability to lead the company's financial team, saying, "I am confident that Charles will excel in his new role and continue to drive the company's financial success." The company's leadership team will continue to work closely with investors and analysts to provide updates on its progress and plans.