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Story summary
- Warren Buffett stepped down as chairman of Berkshire Hathaway, becoming chairman emeritus.
- Howard Buffett, on the board since 1993, became non-executive chairman to safeguard Berkshire’s culture.
- Greg Abel, appointed CEO nine months earlier, continues day-to-day management and capital allocation.
- Berkshire Hathaway’s market value was about $1.1 trillion when the leadership change occurred.