Warren E. Buffett, the chairman of Berkshire Hathaway, said Thursday that he would step down from the board of The Washington Post Co. in May when his term as a director expires.
Buffett, 80, has long advised Post Co’s chairman and chief executive Donald E. Graham on the financial stewardship of the company. He was also an adviser and close personal friend of Graham’s mother and predecessor as chairman, the late Katharine Graham.
Berkshire Hathaway is the largest shareholder in the Post, with 24 percent of the common stock. The Graham family controls the company through its ownership of separate class of stock.