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International Business Times UK

Business

Akshay Puri

Warren Buffett Steps Down at 96 as Son Howard Takes Over Berkshire Hathaway in Historic Handover

Warren Buffett Howard Buffett Berkshire Greg Abel Berkshire Hathaway

Warren Buffett says Greg Abel runs the company, while Howard guards its culture and values. (Credit: Twitter)

Warren Buffett stepped down as chairman of Berkshire Hathaway at 96, handing one of the world's best-known corporate boardrooms to his son Howard after more than five decades in the role.

Buffett will become chairman emeritus and remain a Berkshire director and shareholder, while Greg Abel continues as chief executive. Howard Buffett, 71, has been elected chairman of the board.

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