Howard Buffett, eldest son of legendary investor Warren Buffett, is taking over as chairman of Berkshire Hathaway Inc., ending Warren Buffett's roughly six-decade run at the conglomerate. The 71-year-old Howard Buffett, who has served as a Berkshire director for 33 years, brings a well-telegraphed succession plan to one of the world's largest companies. "Howard has been a Berkshire director for 33 years," Warren Buffett said, noting that "That is a longer apprenticeship than I served before taking the reins at the age of 34." The transition follows a multi-year handover, with Buffett stepping down as CEO last year to Greg Abel, 64, and previously signaling in 2011 that his son was qualified to succeed him. Howard Buffett's background includes law enforcement, philanthropy, and directorships at Coca-Cola Co., Firs Tier Financial, and Conagra Brands.

He also runs the Howard G. Buffett Foundation, which has provided aid to Ukraine since Russia's 2022 invasion. "We are grateful to Howard for the care, discipline, and deep understanding of Berkshire he will bring to his new role," said Greg Abel.