Good morning. At age 96, Warren Buffett has officially closed the book on his more than six-decade tenure as chairman of Berkshire Hathaway.
Buffett stepped down as chairman on Sept. 18, effective immediately, and was succeeded by his son, Howard G. Buffett, a Berkshire director for 33 years. The move caps a leadership transition that began when Greg Abel took over as CEO on Jan. 1. While the CEO succession unfolded over a longer timeline, Buffett’s decision to relinquish the chairmanship came as a surprise to some investors, even though Berkshire described it as part of a “long-standing succession plan.” Buffett will remain on Berkshire’s board as chairman emeritus.
