Warren Buffett Steps Down as Berkshire Hathaway Chairman

The legendary investor’s son Howard will assume the role, completing a succession plan years in the makingWarren Buffett stepped down as chairman of Berkshire Hathaway and appointed his son Howard to succeed him, the final phase of a succession plan that has brought the $1 trillion conglomerate into a new era. Buffett, who had tipped Howard as Berkshire’s next chairman years earlier, announced the news Friday in a letter to investors. Buffett ceded his role as CEO to Greg Abel in January. He said he would remain on the board and serve as chairman emeritus. Howard, known as Howie, will...