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Warren Buffett steps down after six decades at Berkshire - 'Father Time always wins'
Since taking control in 1965, Buffett grew a struggling textile mill into a global conglomerate.
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Since taking control in 1965, Buffett grew a struggling textile mill into a global conglomerate.
Buffett's son, Howard, will succeed him in the role. Buffett had earlier stepped down as Berkshire's CEO last year.
Buffett's son Howard will replace him as chairman, as dictated by a long-standing succession plan, Berkshire said.