Warren Buffett Shifts to Emeritus Role as Son Howard Becomes Berkshire Chair

Warren Buffett transitioned from chairman to chairman emeritus of Berkshire Hathaway , effective Friday (Sept. 18), and will remain a member of the board of directors, Berkshire Hathaway said in a Friday press release . In a letter to shareholders accompanying the release, Buffett said his recent 96th birthday and the performance of Greg Abel as the company’s CEO, which has exceeded Buffett’s expectations, made this the right time for the transition.