Buffett Names Son as Successor

Looks like the oracle of Omaha has another prophecy up his sleeve. In an interview that will air Sunday, Warren Buffett told 60 Minutes that he will name his son Howard as his successor at Berkshire Hathaway. Howard, or “Howie,” as he is known in the family, will serve as a “guardian” of the company’s “values” rather than CEO, as long as the company’s board approves. When Warren Buffett dies, Howard, who is currently a corn and soybean farmer, will become the “non-executive chairman,” an unpaid position. Buffett said he worried that “somebody will be in charge of Berkshire that uses it as their own sandbox in some way,” and “having Howie there serves as an extra layer of protection.”