Warren Buffett steps down as Berkshire chair, becomes chairman emeritus
Warren Buffett announced on Friday that he will step down as chairman of Berkshire Hathaway and become its chairman emeritus, effective immediately. He had already stepped down as CEO earlier this year, handing control to Greg Abel. The 96-year-old billionaire, who built Berkshire into a $1.03 trillion conglomerate, stated in a letter to shareholders that he would continue to offer his "valued judgment and perspective" as chairman emeritus.
His son, Howard Buffett, was named as the new chairman. Berkshire emphasized that Warren's culture and values will remain central to the company. Howard Buffett, who has served on the board since 1993, will serve as the guardian of these principles under Berkshire's new leadership structure.
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