[Warren Buffett Resigns as Chairman of Berkshire Hathaway, Remains on the Board] According to Jintou News, 96-year-old legendary investor Warren Buffett announced in a letter to shareholders on Friday that he will step down as Chairman of Berkshire Hathaway (BRK.A.N, BRK.B.N). The company also issued a statement saying that Buffett will assume the role of Honorary Chairman effective immediately, while continuing to serve as a member of the board. As part of the long-term succession plan, his son Howard Buffett will succeed him as Chairman, and Susan Decker will continue to serve as Lead Independent Director. This decision comes approximately nine months after Greg Abel took over as CEO, while Buffett retained the Chairman position. In the company’s statement, Abel said: 'The culture Warren has built and the values he has championed will always remain at the core of Berkshire, and Howard will be the guardian of these values.'