Change default root user with a new one on Ubuntu Server

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http://serverfault.com – I have a VPS, until now I used the default root user for SSH access and everything. For security reasons I'd like to use a different user for root, terminal access and sudo operations. So I created another user, gave him the sudo and every other perm. The problem is that all the system files belongs to root. What happens if I set PermitRootLogin No for root? Those files wouldn't be editable by the new root user! (HowTos)