The final change of the guard at the storied Berkshire Hathaway (BRK-B). <\/p>\n
Berkshire Hathaway said Friday that Warren Buffett, 96, will step down as chairman effective immediately. He will move to the chairman emeritus role. <\/p>\n
In his place as chair will be his son Howard G. Buffett, as has been telegraphed would happen for years. <\/p>\n
Board life will now look much differently for Howard, who has a striking resemblance to his legendary investor dad. <\/p>\n
And he knows the transition will change his life, which has long consisted of frequent world travel for philanthropic ventures alongside a daily routine of being a farmer who tills his own land. <\/p>\n
“I’ve been to 155 countries or something. And I’m on the road a lot. I’ve been in Ukraine five times in 2022. And the same thing five times in 2023 and probably four or five times this year. So those are trips I won’t make,” Buffett told Yahoo Finance in a 2024 interview. <\/p>\n
Buffett, 71, is seen as the “guardian” of the unique Berkshire culture that his father and longtime lieutenant Charlie Munger created over the decades. The business itself is a beast, requiring expert planning and oversight by the Berkshire board. <\/p>\n
The business varies from operating one of the nation’s most important railroads in Burlington Northern to supporting the housing market via homebuilder Clayton Homes. <\/p>\n
Buffett has an extensive management resume, ranging from working in investor relations at commodities player Archer Daniels Midland (ADM) to being a board member of his dad’s favorite drink and legacy stock investment, Coca-Cola (KO). (He retired from the Coke board in 2016 after 17 years.) <\/p>\n
Buffett is also the chairman and CEO of the Howard G. Buffett Foundation, which was founded in 1999. <\/p>\n
“I will need to keep in mind that I just need to be around to do my job [at Berkshire] and my responsibility. So I think the risk level of what I do in my life today probably gets decreased,” said Buffett in the 2024 interview. “I won’t be running the company as a non-executive chairman. My job will be to support [future CEO Greg Abel] in every way that I can.” <\/p>\n
Brian Sozzi<\/u><\/em> is Yahoo Finance’s Executive Editor, host of the ‘<\/em>Power Players With Brian Sozzi’<\/u><\/em> podcast and a member of Yahoo Finance’s editorial leadership team. Follow Sozzi on X<\/em> @BrianSozzi<\/u><\/em>,<\/em> Instagram<\/u><\/em>, and<\/em> LinkedIn<\/u><\/em>. Tips on stories? Email brian.sozzi@yahoofinance.com.<\/em> <\/p>\n Click here for in-depth analysis of the latest stock market news and events moving stock prices<\/u><\/strong> <\/p>\n Read the latest financial and business news from Yahoo Finance<\/u><\/strong> <\/p>\n","protected":false},"excerpt":{"rendered":" The final change of the guard at the storied Berkshire Hathaway (BRK-B). Berkshire Hathaway said Friday that Warren Buffett, 96, will step down as chairman effective immediately. He will move to the chairman emeritus role. In his place as chair will be his son Howard G. Buffett, as has been telegraphed would happen for years. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-1343","post","type-post","status-publish","format-standard","hentry","category-us-stocks"],"_links":{"self":[{"href":"https:\/\/btbitcoin.net\/index.php\/wp-json\/wp\/v2\/posts\/1343","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/btbitcoin.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/btbitcoin.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/btbitcoin.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/btbitcoin.net\/index.php\/wp-json\/wp\/v2\/comments?post=1343"}],"version-history":[{"count":0,"href":"https:\/\/btbitcoin.net\/index.php\/wp-json\/wp\/v2\/posts\/1343\/revisions"}],"wp:attachment":[{"href":"https:\/\/btbitcoin.net\/index.php\/wp-json\/wp\/v2\/media?parent=1343"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/btbitcoin.net\/index.php\/wp-json\/wp\/v2\/categories?post=1343"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/btbitcoin.net\/index.php\/wp-json\/wp\/v2\/tags?post=1343"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}