Warren Buffett Steps Down as Berkshire Hathaway Chairman

Warren Buffett is stepping down as chairman of Berkshire Hathaway BRK.B -2.04%decrease; down pointing triangle, the $1 trillion conglomerate that he led for more than six decades.

Buffett, who had said his son Howard would one day succeed him as Berkshire’s chairman, announced the news Friday in a letter to investors. He will remain on the board and become chairman emeritus, he said.

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