Warren Buffett steps down as Chairman of Berkshire Hathaway. Warren Buffett assumes the role of Chairman Emeritus. He retains his seat on the board. His son, Howard G. Buffett, has been elected as the new Chairman. Berkshire has officially completed its management transition. Warren Buffett remains on the board and can still influence major decisions. Howard’s role as Chairman leans more toward governance; day-to-day investments will likely continue to be managed by the existing investment team. The idea that power in this world is sustained only through bloodline and marriage has been made tangible.
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