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The Independent UK

National

Michelle Chapman

Warren Buffett steps down as Berkshire Hathaway chairman after 56 years

Warren Buffett Berkshire Hathaway Howard Buffett

Buffett has stepped down from his position - (Reuters)

Warren Buffett is standing down as chairman of Berkshire Hathaway after leading the conglomerate for more than 50 years.

Buffett, 96, will assume the role of chairman emeritus immediately, the company announced on Friday. His son, Howard, who has sat on the Berkshire Hathaway board since 1993, will become the new chairman as part of a long-planned succession.

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