Berkshire Hathaway Succession

Warren Buffett Steps Down as Berkshire Chair

Warren Buffett, 96, is stepping down as chair of Berkshire Hathaway after more than 50 years. He will become chairman emeritus and remain a director. His son Howard Buffett, 71, will succeed him as chair but will not run day-to-day operations. Buffett told shareholders, "Father Time always wins."