Warren Buffett is stepping down as chairman of Berkshire Hathaway, bringing another part of his six-decade leadership of the conglomerate to an end after handing the chief executive role to longtime deputy Greg Abel earlier this year.
The 96-year-old will become chairman emeritus effective immediately and remain on Berkshire's board, while his son Howard Buffett has been elected chairman under the company's long-standing succession plan, Berkshire Hathaway said Friday. Abel, who became CEO on Jan. 1, will continue running the company.
