Warren Buffett, 96, said in a shareholder letter he will relinquish the chairmanship of Berkshire Hathaway (BRK.A, BRK.B) and become honorary chairman effective immediately, while remaining a board member.
Under the company’s long-standing succession plan, Howard Buffett will succeed him as chairman; Susan Decker will remain lead independent director.
The move follows Greg Abel’s promotion to CEO about nine months ago, when Buffett retained the chairman role.
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