Legendary investor Warren Buffett has formally retired as chief executive of Berkshire Hathaway, stepping down from the role on Wednesday after more than six decades in charge, the company said.

Buffett, 95, had served for years as chief executive of the conglomerate, which he transformed from a struggling textile maker into one of the world’s largest and most valuable companies.

He announced in November that he would relinquish the CEO post at the end of 2025, but said he would remain chairman of the board and retain a “substantial” shareholding in the company.

The transition marks the end of an era for the Omaha-based group, whose long-term, value-driven investment approach under Buffett made it a global benchmark for corporate governance and capital allocation.