Warren Buffett steps down as chairman of Berkshire Hathaway

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Warren Buffett, who ended his decades-long tenure as CEO of Berkshire Hathaway at the end of last year, is giving up the chairman post he has held since 1970.

Buffett, 96, will remain on the board to serve as Chairman Emeritus. His son Howard, a board member since 1993, will take over the role as chairman.

Known as the “Oracle of Omaha,” Buffett built Berkshire into one of the world’s most valuable companies using his theory of value investing, greatly outperforming the broader market. He also became the world’s 10th richest person and one of the most generous philanthropists. Today, he has a net worth of $145 billion according to Bloomberg’s Billionaire Index .

Shares of Berkshire ( BRK.A ) were little changed on the news.

In a letter to Berkshire shareholders Friday, Buffett said that he is stepping aside partly because CEO Greg Abel has exceeded his expectations. But he also said acknowledged his age in the letter, mentioning that his great-grandson, who just turned one, is “moving a bit faster than I am these days.”

“Father Time always wins,” he wrote. “He has, however, been generous with me. He has given me the opportunity to see Berkshire reach a point where I am more confident than ever about what lies ahead.”

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沃伦·巴菲特于去年年底结束了他担任伯克希尔·哈撒韦公司首席执行官长达数十年的任期，并将放弃他自 1970 年以来一直担任的董事长职位。

96岁的巴菲特将继续留在董事会，担任名誉主席。他的儿子霍华德自1993年起担任董事会成员，将接任主席一职。

被誉为“奥马哈先知”的巴菲特运用其价值投资理论，将伯克希尔哈撒韦公司打造成为全球最具价值的公司之一，其业绩远超大盘。他也因此跻身世界第十大富豪之列，并成为最慷慨的慈善家之一。据彭博亿万富翁指数显示，他目前的净资产高达1450亿美元。

消息公布后，伯克希尔哈撒韦公司（BRK.A）的股价几乎没有变化。

巴菲特周五在致伯克希尔股东的一封信中表示，他卸任的部分原因是首席执行官格雷格·阿贝尔的表现超出了他的预期。但他也在信中承认了自己的年龄，提到他刚满一岁的曾孙“现在比我行动还快”。

“时间老人总是最终的赢家，”他写道。“然而，他对我很慷慨。他给了我机会，让我见证伯克希尔发展到如今的成就，让我对未来的发展比以往任何时候都更有信心。”