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Warren Buffett steps down as chairman of Berkshire Hathaway (Video)

Buffett, 96, will become chairman emeritus and will take on his new role immediately, the company said Friday. His son, Howard, will become Berkshire Hathaways new chairman, part of a long-planned succession. Howard Buffett has been on the Berkshire Hathaway board since 1993.

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Warren Buffett steps down as chairman of Berkshire Hathaway (Video)

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