Warren Buffett steps down as chair of Berkshire Hathaway after over 50 years

‘Father Time always wins,’ Buffett, 96, says as his son, Howard, steps in as the $1tn conglomerate’s new chair Warren Buffett is stepping down as chair of Berkshire Hathaway, the company that he took from a faltering textile manufacturer into a $1tn conglomerate over the course of 60 years.

Buffett’s son, Howard, 71, will take over as chair. Buffett, 96, cited his age as the main reason behind the transition, noting…