Warren Buffett says son Howard qualified to be nonexec chairman

OMAHA, Neb. Sat May 4, 2013 3:56pm EDT

OMAHA, Neb. May 4 (Reuters) - Warren Buffett's son, Howard, will take over as Berkshire Hathaway Inc's nonexecutive chairman someday in order to ensure that Berkshire has the right chief executive in place, the elder Buffett said on Saturday.

Warren Buffett has said in the past that Howard would assume that role when his father was no longer running Berkshire. The "Oracle of Omaha" said Saturday that Howard would take that role primarily "in case a mistake is made" in picking a CEO.