Warren Buffett has stepped down as chairman of Berkshire Hathaway, handing over leadership to his son Howard in the final chapter of a long-planned transition at the US business giant. At 96, the world-famous investor will move into an advisory role as chairman emeritus and remain on the company board to offer his "judgement and perspective", according to a letter to shareholders , external . The decision comes nine months after Buffett passed the chief executive role to Greg Abel, with his son, Howard, who has been a director since 1993, taking over non-executive board duties. Known as the "Oracle of Omaha," Buffett built one of the most successful investment track records in modern history.
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