00:00Warren Buffett is stepping back from the company he built over six decades.
00:04On Friday, Buffett announced he will step down as chairman of Berkshire Hathaway,
00:08a role he had held since 1970.
00:11At 96, he becomes chairman emeritus effective immediately
00:15and stays on the board as a director.
00:18His son, Howard Buffett, a board member since 1993, takes over as chairman.
00:23Buffett stepped down as CEO late last year when Greg Abel succeeded him.
00:28Buffett called the role the privilege of a lifetime,
00:31writing that father time always wins.
00:34The full story is in the description below.
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