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Warren Buffett steps down as Berkshire Hathaway chairman
Buffett will become chairman emeritus immediately and his son Howard will become chairman.
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Buffett will become chairman emeritus immediately and his son Howard will become chairman.
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.
At 96, Omaha's oracle became president emeritus and passed the presidency to his son Howard, a year and a half after leaving the direction of the financial conglomerate
Buffett's son Howard will replace him as chairman, as dictated by a long-standing succession plan, Berkshire said.