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Friday
Dec092011

Warren Buffett Chooses Berkshire Hathaway Successor

Scott Eells/Bloomberg via Getty Images(OMAHA, Neb.) -- Warren Buffett has chosen his successor at Berkshire Hathaway.  Buffett announced in a 60 Minutes interview scheduled to air Sunday, according to Forbes, that his son Howard will follow him at the company pending board approval.

Howard Buffett, 56, is expected to take the unpaid position of "non-executive chairman," and serve as a "guardian" of the company's "values" after the death of the elder Buffett, who is 81, Forbes reports of the interview.  

While serving in this role, Howard Buffett plans to maintain his job as a corn and soybean farmer.

Copyright 2011 ABC News Radio

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