WorldEconomy
Buffett steps down as Berkshire Hathaway chairman; son Howard named successor
Warren Buffett has stepped down as chairman of Berkshire Hathaway, the $1 trillion conglomerate he led since 1965. He becomes chairman emeritus immediately and remains on the board, while his son Howard G. Buffett succeeds him as chairman, the company said.
Warren Buffett stepped down as chairman of Berkshire Hathaway on Friday, ending a tenure at the head of the $1 trillion conglomerate that began in 1965.
The 96-year-old investor announced the decision in a letter to shareholders. "Father Time always wins," Buffett wrote, adding that he looks forward to remaining a shareholder.
Buffett becomes chairman emeritus with immediate effect, according to a company press release. He will remain a member of the Board of Directors and will continue to offer his judgment and perspective.
Consistent with the company's long-standing succession plan, his son, Howard G. Buffett — a Berkshire director since 1993 — will succeed him as chairman.
Susan L. Decker will continue as lead independent director, the company announced.
- Warren Buffett
- Berkshire Hathaway
- chairman emeritus
- transition of leadership
- Howard G. Buffett
- shareholder letter
- succession plan
From
WorldEconomy
Buffett steps down as Berkshire Hathaway chairman; son Howard named successor
Warren Buffett has stepped down as chairman of Berkshire Hathaway, the $1 trillion conglomerate he led since 1965. He becomes chairman emeritus immediately and remains on the board, while his son Howard G. Buffett succeeds him as chairman, the company said.
Warren Buffett stepped down as chairman of Berkshire Hathaway on Friday, ending a tenure at the head of the $1 trillion conglomerate that began in 1965.
The 96-year-old investor announced the decision in a letter to shareholders. "Father Time always wins," Buffett wrote, adding that he looks forward to remaining a shareholder.
Buffett becomes chairman emeritus with immediate effect, according to a company press release. He will remain a member of the Board of Directors and will continue to offer his judgment and perspective.
Consistent with the company's long-standing succession plan, his son, Howard G. Buffett — a Berkshire director since 1993 — will succeed him as chairman.
Susan L. Decker will continue as lead independent director, the company announced.
- Warren Buffett
- Berkshire Hathaway
- chairman emeritus
- transition of leadership
- Howard G. Buffett
- shareholder letter
- succession plan
From