Warren Buffett steps down as Berkshire Hathaway chairman
Buffett will become chairman emeritus immediately and his son Howard will become chairman.
Warren Buffett is stepping down as chairman of Berkshire Hathaway in the next step of the transition at the top of the $1 trillion conglomerate he led for more than six decades.
Buffett, 96, will become chairman emeritus and will take on his new role immediately, nine months after handing the CEO reins to longtime lieutenant Greg Abel, the company said Friday.
His son, Howard, will become Berkshire Hathaway’s new chairman, part of a long-planned succession. Howard Buffett has been on the Berkshire Hathaway board since 1993.
“The culture Warren built and the values he championed will remain at the heart of Berkshire, and Howard will be their guardian,” Abel said in a statement on Friday.