Warren Buffett steps down as Berkshire Hathaway chairman
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Warren Buffett, 96, is stepping down as chairman of Berkshire Hathaway and becomes chairman emeritus immediately, nine months after handing the CEO role to Greg Abel. His son Howard, a board member since 1993, becomes chairman under a long-planned succession. Buffett transformed Berkshire from a failing textile firm into a $1.1 trillion conglomerate; its Class B shares fell 0.3 percent in premarket trading.
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