Warren Buffett has stepped down as Berkshire chairman. Here are 5 leadership lessons he leaves behind.

Warren Buffett's decades leading Berkshire Hathaway yielded numerous lessons, including learning from mistakes.

Nati Harnik/AP This week, the Oracle of Omaha gave up his job of chairman of Berkshire Hathaway.

After decades at the top, Warren Buffett leaves a legacy of leadership advice.

He has emphasized the importance of self-improvement, honesty, and choosing the right leaders.

If you want to be a high-mileage leader like Warren Buffett, it pays to be humble.

The Oracle of Omaha this week gave up the job as chairman of Berkshire Hathaway, after more than half a century spent building and then running the conglomerate.

Buffett said his son Howard would succeed him as chairman.

In that role, his son will guard Berkshire's culture and values, which the elder Buffett said are "worth more than anything on our balance sheet." That belief in the importance of organizational culture is nothing new for Buffett who has, over the years, offered a steady stream of advice on investing and leadership.

Last year, in his final Thanksgiving letter to shareholders as CEO, he shared insights on the virtues of stewardship, honesty, and what he described as "good intentions" gone awry in attempts to rein in CEO pay.

One broad takeaway was his call to continue learning and growing.

"Choose your heroes very carefully and then emulate them.

You will never be perfect, but you can always be better," Buffett wrote.

Here are five other lessons Buffett shared: Stay humble The 96-year-old famously ran Berkshire with an unfussy, meat-and-potatoes sensibility.

Buffett wrote about the role luck played in his life and work, and how that experience continually honed his sense of humility.