(RTTNews) - Warren Buffett, 96, has stepped down as chairman of Berkshire Hathaway (BRK-A), ending more than five decades in the role and becoming chairman emeritus. His son, Howard Buffett, a Berkshire director since 1993, will take over as chairman. Buffett will remain on the company's board and continue providing advice and perspective. Buffett said the decision was partly driven by his confidence in CEO Greg Abel, who succeeded him as chief executive at the end of 2025, as well as his age. He credited "Father Time" for being generous to him and expressed confidence in Berkshire's future. Abel said Buffett's impact on Berkshire and its shareholders was unmatched in American business.
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