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In an interview with 60 Minutes that will air this Sunday, Warren Buffett announces his choice of son Howard – or “Howie”, as he’s known in the family – as his successor at Berkshire Hathaway.

The elder Buffett tells interviewer Leslie Stahl that his son will serve as a “guardian” of the company’s “values” rather than a CEO, as long as the company’s board approves. When America’s second richest person Buffett Sr. dies, 56-year-old Howard will be “non-executive chairman”, an unpaid position.

Read the whole story at ABC News

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