Warren Buffett's son, Howard Buffett, has assumed the chairmanship of Berkshire Hathaway, a role he has long been prepared to inherit. Critics argue that Howard Buffett's career background—spanning public company directorships, farming, and local government—does not adequately qualify him to serve as the lead representative of shareholders in one of the world's largest enterprises. When questioned about the appointment, Buffett senior candidly stated, "He is getting it because he's my son." He further justified the decision by emphasizing that CEO Greg Abel manages operations while Howard Buffett will safeguard the company's culture and values, which he claims are worth more than any asset on the balance sheet. However, skeptics contend that culture and values are inseparable from financial decisions and that experience, not just personal integrity, is essential for effective corporate governance. While some investors, including Chris Rossbach of J. Stern & Co, argue that public shareholders will hold both Abel and Buffett junior accountable, others worry about potential governance risks, particularly during periods of significant decision-making. The company has increasingly resembled a low-volatility, tax-efficient alternative to an S&P 500 index fund, prompting questions about whether current leadership meets the evolving needs of Berkshire's stakeholders.

Critics point out that numerous large corporations operate under suboptimal governance structures yet remain highly successful. These include Meta's dual-class shareholder arrangement and JPMorgan's lack of an independent chair. If such models persist without issue, the younger Buffett's tenure as chair may not materially impact Berkshire's performance.

However, governance becomes critically important during periods of crisis. Should CEO Greg Abel prove inadequate in his role, the absence of a seasoned, independent chair could pose significant risks to the company's stability and shareholder interests.

Supporters, such as Chris Rossbach, believe that Berkshire's public shareholders will ensure accountability for both Abel and Buffett junior. They argue that a chair focused on preserving principles and legacy complements a strong CEO, preventing concentration of power. With Buffett senior's 30% voting stake set to decline upon his death, the company's governance structure will face further evolution.