Berkshire Hathaway is entering a closely watched new chapter, with Howard Buffett set to become chairman of the $1.1 trillion conglomerate, succeeding his father Warren Buffett, who will become chairman emeritus, according to Reuters.
The transition comes nine months after Warren Buffett handed over the CEO role to longtime Berkshire executive Greg Abel. Howard's appointment continues a succession plan that has been in place for years, with his role focused on preserving the company's culture rather than running its day-to-day operations.
