Warren Buffett, 96, Handed the Berkshire Chairmanship to His Son Howard in a Letter Friday That Began 'Father Time Always Wins'
Buffett becomes chairman emeritus and stays on the board. Howard Buffett, 71, a director since 1993, takes the chair nine months after Greg Abel became CEO. Buffett told shareholders to think of his son 'as a policy the shareholders own and hope never to claim against.'














