Buffett Steps Down as Berkshire Hathaway Chairman, Hands Role to Son Howard
The move marks a further step in Warren Buffett's succession plan aimed at preserving Berkshire Hathaway's culture, according to CNBC.
Warren Buffett has stepped down as chairman of Berkshire Hathaway, passing the role to his son, Howard Buffett, according to a report by CNBC.
The change was described by CNBC as the latest step in a broader plan intended to keep Berkshire Hathaway from straying from the principles and culture established under Warren Buffett's decades-long leadership.
Howard Buffett has previously served on Berkshire Hathaway's board of directors. Warren Buffett has in recent years outlined plans for an eventual leadership transition at the conglomerate, which he built into one of the largest companies in the world.
Further details on the timing and scope of the transition were not immediately available.
Sources
- Buffett takes next step in plan to keep Berkshire from straying — CNBC — Top News
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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