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Buffett resigns as Berkshire Hathaway chairman
It has been decided that American billionaire Warren Buffett will step down from his position as CEO of Berkshire Hathaway to become Chairman Emeritus, after more than 50 years in leadership. He will be succeeded by his son Howard Buffett, who has served on the company’s board of directors since 1993, as part of a long-term succession plan. Buffett, who is 96 years old, is known for transforming the company from a struggling textile firm into a trillion-dollar investment conglomerate, and is considered one of the most influential figures in the investment world, with an outstanding performance record achieving an annual growth rate of 19.9% compared to the S&P 500 index. Despite stepping down as CEO, Buffett will remain a board member, with great confidence in his son Howard’s capabilities and Gas Abel’s potential for future leadership, while maintaining the culture and values he established within the company.
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