Trending 
Warren Buffett, one of the world’s most influential investors, has stepped down as chairman of Berkshire Hathaway, ending more than five decades of leadership at the company he transformed into a global financial powerhouse.
Berkshire Hathaway announced on Friday that Buffett’s resignation as chairman is “effective immediately”. The 96-year-old investor will remain on the company’s board of directors, the statement said.
His son, Howard Buffett, will succeed him as chairman, marking a new chapter for the conglomerate that has grown significantly under Buffett’s stewardship.
Buffett had previously announced plans to retire from leading Berkshire Hathaway, after building a reputation as one of the most successful investors in history. Since taking control of the company in the 1960s, he has turned what was once a struggling textile manufacturer into a multinational group valued at more than $1 trillion.
The company’s portfolio now spans several industries, including major businesses such as battery maker Duracell and US insurer GEICO. Berkshire Hathaway also holds significant investments in companies such as Coca-Cola and Bank of America.
Known for his long-term investment approach and disciplined strategy, Buffett built Berkshire Hathaway into a model for investors worldwide. His leadership style, often focused on patience and careful decision-making, helped shape the company’s identity over decades.
The transition comes as Berkshire Hathaway enters a new era under a different chairman, while Buffett remains connected to the organisation through his continued role on the board.
