Legendary investor Warren Buffett, 96, has stepped down as Chairman of Berkshire Hathaway (BRK.A, BRK.B), effective immediately. His son, Howard Buffett, will succeed him as chairman, while Greg Abel remains CEO. Buffett will continue as a director. This marks a significant leadership transition for the $1 trillion conglomerate, with Howard Buffett tasked with guarding the company's culture and values 🔗.
Key points:
- Warren Buffett transitions to Chairman Emeritus.
- Howard Buffett appointed Chairman, fulfilling a long-standing succession plan.
- Greg Abel continues as CEO, managing operations.
- Buffett's tenure saw BRK.A achieve a 19.7% compounded annual return 🔗.
Warren Buffett stepping down as chairman of Berkshire Hathaway: ‘Father Time always wins’
CNBC.COMSep 18, 11:11 AM UTC
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