@wallstreetjournal: Warren Buffett is stepping down as chairman of Berkshire Hathaway, the $1 trillion conglomerate that he led for more than six decades. Buffett announced the news Friday in a letter to investors. He will remain on the board and will continue to offer guidance and advice, he said. His son Howard, a Berkshire director since 1993, will assume the role of chairman, effective immediately. “Serving as your Chairman has been the privilege of a lifetime, and I have never taken your trust for granted,” Buffett wrote. “Father Time always wins. He has, however, been generous with me,” he said. “The company is in excellent hands, and I look forward to remaining a shareholder alongside you.” Buffett, 96, transformed Berkshire from a struggling textile maker into a corporate behemoth and one of the most closely followed companies in the world. Each year, thousands of shareholders and admirers descended on Omaha, Neb., for the annual meeting Buffett dubbed the “Woodstock of Capitalists,” while millions more followed his shareholder letters and absorbed his observations on investing, business and life. Photo: AP

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Friday 18 September 2026 10:41:08 GMT