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- Departure of CFO (new) — CFO Marc Hamburg is retiring effective June 1, 2026, marking a leadership transition at the finance chief position.
Berkshire Hathaway names Charles Chang CFO at $8M salary, replacing retiring Marc Hamburg
Filed May 7, 2026 · Period ending May 2, 2026 · ~1 min read
Key Changes
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Charles Chang appointed CFO effective June 1, 2026 at $8 million annual salary, succeeding retiring CFO Marc Hamburg after decades of service.
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR → -
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Berkshire reported Q1 2026 earnings via press release on May 2, 2026; detailed financial results provided in attached exhibit.
Item 2.02 — Results of Operations and Financial Condition verify on EDGAR → -
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Retiring CFO Hamburg receives 11-year NetJets benefit (30 hours annually) plus tax gross-up, costing approximately $490,000 per year through May 2037.
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR → -
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Board amended bylaws on May 3, 2026 to update officer roles and responsibilities, aligning governance documents with current operating structure.
Item 5.03 — Amendments to Articles of Incorporation or Bylaws verify on EDGAR → -
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All 13 directors elected at May 2 annual meeting; shareholders approved executive compensation (93% support) and preferred triennial say-on-pay votes.
Item 5.07 — Submission of Matters to a Vote of Security Holders verify on EDGAR →
Summary
Berkshire Hathaway disclosed a planned CFO succession, with Charles Chang taking over from retiring CFO Marc Hamburg on June 1, 2026. Chang will earn an $8 million annual salary in the role. Hamburg's retirement represents a leadership transition after many decades with the company, though Berkshire characterizes this as an orderly succession rather than an unexpected departure.
The company is providing Hamburg with an 11-year retirement benefit consisting of NetJets flight hours and tax gross-ups, costing roughly $490,000 annually. The filing also announced Q1 2026 earnings results released May 2, and routine governance matters from the annual meeting held the same day. All 13 directors were re-elected, including CEO Greg Abel and Vice Chairman Ajit Jain, with strong shareholder support.
Shareholders approved executive compensation with 93% voting in favor and indicated preference for triennial say-on-pay votes going forward. Retail investors should monitor Chang's first quarterly earnings call as CFO to assess his communication style and strategic priorities. The CFO transition at a company of Berkshire's complexity warrants attention, particularly given Hamburg's long tenure and institutional knowledge. Watch for any changes in financial reporting practices or capital allocation commentary under new leadership.
Section-by-Section Diff
Event · Item 2.02 — Results of Operations and Financial Condition
Item 2.02 — Results of Operations and Financial Condition filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
On May 2, 2026, Berkshire Hathaway Inc. (“Berkshire” or “Company”) issued a press release announcing the Company’s earnings for the first quarter ended March 31, 2026.
Berkshire Hathaway announced its first quarter 2026 earnings results through a press release dated May 2, 2026. The actual financial results are contained in the attached press release exhibit, which is not included in this 8-K body text.
Event · Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
Charles C. Chang will succeed Marc D. Hamburg as Berkshire’s Chief Financial Officer on June 1, 2026. In his new role, Mr. Chang will be paid an annual cash salary of $8,000,000.
Berkshire appointed Charles C. Chang as Chief Financial Officer effective June 1, 2026, replacing retiring CFO Marc Hamburg. Chang will receive an annual salary of $8 million. This represents a planned leadership transition at the CFO position.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
In connection with Mr. Hamburg’s retirement as Berkshire’s Chief Financial Officer and in recognition of Mr. Hamburg’s many decades of service, Berkshire will provide Mr. Hamburg (or his spouse, if he predeceases her), with up to 30 flight hours per year on a mid-sized NetJets aircraft for a term starting on June 1, 2026 and ending no later than May 31, 2037. Berkshire will provide Mr. Hamburg with tax gross-up payments to cover Mr. Hamburg’s imputed tax expenses related to this travel benefit. Berkshire estimates its cost of providing this benefit will be approximately $490,000 per year.
Retiring CFO Marc Hamburg will receive an 11-year retirement benefit consisting of 30 annual flight hours on NetJets aircraft plus tax gross-up payments, costing Berkshire approximately $490,000 per year. The benefit extends through May 2037 and transfers to his spouse if he predeceases her.
Event · Item 5.03 — Amendments to Articles of Incorporation or Bylaws
Item 5.03 — Amendments to Articles of Incorporation or Bylaws filed; see Key Changes for terms.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
On May 3, 2026, the Board of Directors of Berkshire (the “Board”) voted to amend and restate Berkshire’s By-Laws effective immediately. The primary purpose of the amendment was to update the officer roles and responsibilities to conform to Berkshire’s current operating structure. Changes were made to Sections 4 (Officers and Agents), 6 (Capital Stock) and 10 (Execution of Papers) of Berkshire’s By-Laws.
The Board amended and restated the company's bylaws on May 3, 2026, primarily to update officer roles and responsibilities to align with current operations. Specific changes were made to sections covering officers and agents, capital stock, and execution of papers.
Event · Item 5.07 — Submission of Matters to a Vote of Security Holders
Item 5.07 — Submission of Matters to a Vote of Security Holders filed; see Key Changes for terms.
Show 4 minor / wording changes
Added in current filing · verify on EDGAR →
Gregory E. Abel 431,852 3,454 Howard G. Buffett 428,007 7,299 Susan A. Buffett 427,052 8,254 Warren E. Buffett 424,675 10,631 Stephen B. Burke 403,648 31,658 Kenneth I. Chenault 410,696 24,610 Christopher C. Davis 426,119 9,187 Susan L. Decker 386,648 | 48,658 | Charlotte Guyman | 381,226 | 54,080 | Ajit Jain | 430,489 | 4,817 Thomas S. Murphy, Jr. 410,831 24,475 Wallace R. Weitz 429,478 5,828 Meryl B. Witmer 427,348 7,958
All 13 director nominees were elected at the May 2, 2026 annual meeting. Gregory Abel (CEO) and Ajit Jain (Vice Chairman) received strong support with minimal withheld votes. Warren Buffett received 424,675 votes for with 10,631 withheld.
Added in current filing · verify on EDGAR →
Proposal 2 – Advisory vote on executive compensation 403,351 | 30,251 | 1,703
Shareholders approved the non-binding advisory vote on executive compensation with 403,351 votes for, 30,251 against, and 1,703 abstentions. This represents approximately 93% approval of the Named Executive Officers' compensation.
Added in current filing · verify on EDGAR →
1 year | 2 years | 3 years | Abstain Proposal 3 – Advisory vote on the frequency of an advisory vote on executive compensation 143,050 | 1,715 | 288,858 | 924
Shareholders voted on how frequently to hold advisory votes on executive compensation. The 3-year option received 288,858 votes, significantly more than the 1-year option (143,050 votes) or 2-year option (1,715 votes), indicating shareholder preference for triennial say-on-pay votes.
Added in current filing · verify on EDGAR →
Proposal 4 – Shareholder proposal | 65,023 | 367,387 | 2,895
A shareholder proposal requesting a report on the Board's oversight framework for workforce and human-capital management across operating subsidiaries was decisively rejected, with 367,387 votes against versus 65,023 for. This represents approximately 85% opposition to the proposal.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 17, 2026 · How we verify