Howard Buffett has also served on multiple corporate boards and runs a charitable foundation, the WSJ report added. In 1989, he served as the County Commissioner in Douglas County, Nebraska ...

The decision to continue with the so-called Sage of Omaha as head of the board came amid speculation that Howard Buffett, the second-born of the investor’s three children, would move into that spot.

It's "highly likely" Howard Hughes will follow the Berkshire playbook, Ackman says. Berkshire owes its success to long-time CEO Warren Buffett, who will step down at the end of the year.

The older Buffett has said that after he dies he would like Howard to take over as chairman.A current vice-chairman, Abel, will take over as CEO as big questions hover over the company.