Warren Buffett, 96, stepped down as Berkshire Hathaway chairman on September 18, handing the role to his son Howard G. Buffett, 71, after Howard served on the board since 1993. Howard, whose career has included farming, public service, law enforcement, photography and philanthropy rather than large-company management or stock investing, is tasked with protecting Berkshire’s corporate governance and long-term structure. Warren Buffett assigned decisions on acquisitions, divestitures and investment strategy to CEO Greg Abel, while Howard is expected to oppose short-termism, prevent a breakup of Berkshire’s subsidiaries and intervene when senior management must be replaced. Howard, alongside siblings Susie and Peter, will also oversee charitable distributions from most of Warren Buffett’s approximately $145 billion estate through their foundations, which distribute about $500 million annually.