Warren Buffett named Chairman Emeritus at Berkshire Hathaway

Berkshire Hathaway Inc. announced that Warren E. Buffett has been named Chairman Emeritus, effective immediately, with Howard G. Buffett elected as the new Chairman of the Board.

Howard Buffett, who has served as a Berkshire director since 1993, succeeds his father in the role. Susan L. Decker will continue as Lead Independent Director.

Warren Buffett will remain a member of the Board of Directors in his new capacity as Chairman Emeritus, where he will continue to offer counsel to the company.

Greg Abel, Chief Executive Officer, said in a statement: "Warren's impact on Berkshire and its owners is without parallel in the history of American business. The culture Warren built and the values he championed will remain at the heart of Berkshire, and Howard will be their guardian."

Howard Buffett has served since 1999 as Chairman and Chief Executive Officer of the Howard G. Buffett Foundation, a charitable organization focused on global food security and conflict mitigation. He previously served as a United Nations Goodwill Ambassador Against Hunger for the World Food Programme for nearly a decade. His past board experience includes Archer Daniels Midland, ConAgra Foods, The Coca-Cola Company, and Lindsay Corporation.

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