Updated

Warren Buffett stepped down as chairman of Berkshire Hathaway, passing the role to his son, Howard Buffett, marking a significant step in the succession planning long anticipated by investors. The move comes as part of a broader plan to ensure continuity at the conglomerate following Buffett's earlier transition of CEO duties. The leadership change is being closely watched by shareholders and governance experts assessing how Berkshire's culture and investment philosophy will be preserved under new leadership.