Warren Buffett steps down as Berkshire Hathaway chairman
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Warren Buffett, 96, is stepping down as chairman of Berkshire Hathaway, the company said on Friday. His son, 71-year-old Howard Buffett, will succeed him in the role. Buffett bought the struggling textile firm in 1965 and turned it into a multinational conglomerate with a market value of over $1 trillion (€871 billion). He had already handed over the CEO position to Greg Abel last year, saying Abel runs the company while Howard will guard its culture and values. Howard takes over as chairman without holding the CEO role.
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