Howard G Buffett, 71, will take over as the new chairman of Berkshire Hathaway, succeeding his father Warren Buffett, the company said on Friday. Howard has been a member of the conglomerate’s board since 1993.
, 96, is stepping down as chairman and assume the position of chairman emeritus with immediate effect. He will continue to serve on Berkshire Hathaway’s board of directors after leading the company as chairman since 1970. Warren vacated the position after over 50 years.
Who is Howard G Buffet?
Born on 16 December, 1954, Howard Graham Buffett, is an American , farmer, philanthropist, conservationist, photographer and former politician. He is the middle child of billionaire investor Warren Buffett and grew up in Omaha, , alongside his sister Susan and brother Peter.
Howard has worked across several fields, including agriculture, business, conservation and philanthropy. He began farming in Tekamah, Nebraska, in 1977 and later moved to Illinois, where he oversees a 1,500-acre family farm in Pana.
He also manages three foundation-backed research farms, including more than 1,500 acres in Arizona and about 9,200 acres in South Africa. His work has focused extensively on agriculture, food security, conservation and humanitarian causes.
In the corporate sector, Howard has served on the board of The Coca-Cola Company since December 2010. Before that, he was a director of Coca-Cola Enterprises from 1993 to 2004.
Howard has held leadership and board positions across the agriculture, food and manufacturing sectors. He served as a director of Archer Daniels Midland (ADM) from 1991 to 1995 and was the company’s corporate vice president and assistant to the chairman between 1992 and 1995.
He later served on the board of The GSI Group from 1995 to 2001, followed by directorships at ConAgra Foods from 2002 to 2006 and Agro Tech Foods until October 26, 2006. He has also served as a director at Sloan Implement.
Howard joined the board of Lindsay Corporation in 1995 and served as its chairman from 2002 to 2003. In 2008, he announced that he would allow his term as a director to expire in January 2010.
What did Greg Abel say?
Warren Buffett stepped down as Berkshire Hathaway’s chief executive earlier this year, with Greg Abel taking over the role.
Commenting on Buffett’s legacy at the company, Abel was quoted by Bloomberg, saying, “Warren’s impact on Berkshire and its owners is without parallel in the history of American business,” adding, “The culture Warren built and the values he championed will remain at the heart of Berkshire, and Howard will be their guardian.”