Berkshire Hathaway said on Friday (Sep 18) that Warren Buffett will step down as chairman and become chairman emeritus, effective immediately, nine months after handing the CEO reins to longtime lieutenant Greg Abel.The company named his son, Howard Buffett, a director since 1993, as chairman.

Buffett's son, Howard, will succeed him in the role. Buffett had earlier stepped down as Berkshire's CEO last year.

Warren Buffett is stepping down as chairman of Berkshire Hathaway, after more than 60 years guiding the firm that turned him into a household name.

Warren Buffett has stepped down as Berkshire Hathaway chairman, with Howard Buffett taking over and Greg Abel remaining CEO. The move advances a long-planned succession while raising sharper investor focus on capital allocation and execution.

Sept 18 : Berkshire Hathaway said on Friday that Warren Buffett will step down as the conglomerate's chairman and will become its chairman emeritus, effective immediately.Earlier this year, Buffett had stepped down as CEO, handing the reins to longtime lieutenant Greg Abel."Father Time always wins. He