Howard Buffett Says Don’t Expect Third Generation at Berkshire

Howard Buffett, the Berkshire Hathaway Inc. director and potential successor to his father Warren Buffett as chairman, said he doesn’t expect a third generation of the family to lead the firm.

“We all go out and do the things that we want to do and the things we think we can do best,” Howard Buffett, 55, said yesterday in an interview at a World Food Prize conference in Des Moines, Iowa. “It’s very unusual to have a second or third generation that really are the best to fit into something that you’ve created much earlier.”