Warren Buffett steps down as Berkshire chair, becomes chairman emeritus
Berkshire Hathaway disclosed on Friday that Warren Buffett plans to relinquish his role as the conglomerate's chairman and will assume the position of chairman emeritus, effective immediately. The 96-year-old businessman had previously stepped down as CEO earlier this year, with his deputy Greg Abel now taking over the reins. In a letter to shareholders, Buffett acknowledged the inevitable passage of time, expressing gratitude for the support he has received.
His son Howard Buffett, who has served as a Berkshire director since 1993, has been appointed as the new chairman. As Chairman Emeritus, Buffett will continue to be a part of the Board of Directors and will provide his valuable insights and perspective. Berkshire Hathaway's statement emphasized that Buffett's culture and values will remain an integral part of the company under Howard's guardianship.
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