Warren Buffett is stepping down as chairman of Berkshire Hathaway in the next step of the transition at the top of the $1 trillion conglomerate he led for more than six decades. Buffett, 96, will become chairman emeritus and will take on his new role immediately, nine months after handing the CEO reins to longtime lieutenant Greg Abel, the company said Friday. His son, Howard, will become Berkshire Hathaway’s new chairman, part of a long-planned succession. Howard Buffett has been on the Berkshire Hathaway board since 1993. Warren Buffett is credited with transforming Berkshire from a failing textile company into a $1.
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