Billionaire investor Warren Buffett is retiring from the board of directors of Kraft Heinz Co. at the end of his term in April, the food and beverage company said Friday.

Mr. Buffett, the 87-year-old chairman and chief executive of Berkshire Hathaway Inc., will retire at the upcoming Kraft Heinz annual meeting of shareholders on April 23. He decided to retire from the Kraft Heinz board as he decreases his travel commitments, the company said.

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