Warren Buffett steps down as chair of Berkshire Hathaway after over 50 years

Warren Buffett, chair and CEO of Berkshire Hathaway, speaks during a game of bridge following the annual Berkshire Hathaway shareholders meeting 5 May 2019, in Omaha, Nebraska.Photograph: Nati Harnik/AP Warren Buffett is stepping down as chair of Berkshire Hathaway, the company that he took from a faltering textile manufacturer into a $1tn conglomerate over the course of 60 years. Buffett's son, Howard, 71, will take over as chair. Buffett, 96, cited his age as the main reason behind the transition, noting that he has a one-year-old great-grandchild who is "moving a bit faster than I am these days".