Warren Buffett, who transformed Berkshire Hathaway from a struggling textile manufacturer into a company valued at more than $1 trillion, stepped down as Chairman and became chairman emeritus of the company on September 18. His son, Howard G. Buffett, succeeded him as chairman, while Greg Abel remains chief executive officer. Buffett, 96, continues as a director and shareholder.
The leadership change marks the end of Buffett’s formal role at the top of Berkshire Hathaway after more than six decades. He took control of the company in 1965 and built it into a group with businesses spanning insurance, railways, energy, manufacturing, retail and services.
