Warren Buffett steps down as Berkshire Hathaway Chairman at 96

Warren Buffett has officially stepped down as Chairman of Berkshire Hathaway, transitioning to the role of Chairman Emeritus while remaining on the board. His eldest son, Howard Buffett, has been appointed as the new Chairman, while Greg Abel continues to serve as CEO. Buffett, who led the company for 56 years, stated that Abel will manage operations while Howard will serve as a guardian of the company's culture and values. The transition, which aligns with long-standing succession plans, had minimal impact on Berkshire Hathaway's stock price.