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Charlie Munger Steps Back as Daily Journal Chairman and Donates His Stock

  • Munger pledges $1 million of stock to the newspaper company
  • Salzman to retire as CEO, hand the role to Steven Myhill-Jones
Charlie Munger
Charlie MungerPhotographer: Patrick T. Fallon/Bloomberg

Charlie Munger, the 98-year-old investor who’s a longtime business partner of Warren Buffett, is giving up his chairman title at the Daily Journal Corp. and donating $1 million of stock to create an equity-incentive plan for the software and newspaper company. 

Munger will remain as a board member, the Los Angeles-based company said Monday in a regulatory filing. Chief Executive Officer Gerald Salzman will retire, handing the role to Steven Myhill-Jones as interim CEO, the firm said.