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Warren Buffett Steps Down, Says ‘Father Time Always Wins’

“Serving as your Chairman has been the privilege of a lifetime, and I have never taken your trust for granted."

Brecca Stoll
Warren Buffett Steps Down, Says ‘Father Time Always Wins’
Lacy O’Toole/CNBC/NBCU Photo Bank/NBCUniversal via Getty Images

Warren Buffett announced on Friday that he is stepping down as Berkshire Hathaway’s chairman.

Buffett tapped his son Howard Buffett, 71, to replace him effective immediately. Warren Buffett will become chairman emeritus.

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