Warren Buffett steps down after six decades at Berkshire - 'Father Time always wins'

Warren Buffett has relinquished his position as chairman of Berkshire Hathaway at age 96, transitioning to an advisory role as chairman emeritus while remaining on the board. His son Howard, a company director since 1993, assumes the non-executive chairman position with responsibility for preserving corporate culture, while Greg Abel continues as CEO after taking that role nine months earlier. The legendary investor transformed Berkshire from a failing textile manufacturer into a $1.