Warren Buffett is stepping down as chairman of Berkshire Hathaway, the company announced on Friday. In a statement, Berkshire Hathaway said Buffett has been named chairman emeritus, effective immediately, and will remain a member of the board of directors. He will be replaced by his son, Howard Graham Buffett. Berkshire Hathaway also released a letter from Buffett, who turned 96 in August, to shareholders.
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