NetJets CEO David Sokol resigned from Berkshire Hathaway as a cloud of suspicion looms over one of his recent stock deals. Sokol had been considered a potential successor to the Berkshire group, one of America′s top holding companies, an heir apparent to the famous Warren Buffett. Both Buffett and Berkshire′s other power-player, Charlie Munger, are both getting ′long in the tooth′, leaving much speculation as to who may succeed them? David Sokol, who heads the MidAmerican Holding Company, as well as John Mansville addressed a letter of resignation to Buffet on Monday. The ‘Wizard of Omaha’ issued a statement late Wednesday on Sokol’s departure, as well as on the issue of Sokol recently purchasing shares of a chemical company, Lubrizol, buying 100,000 shares with a $104 share limit price. Berkshire later made a $9 Billion dollar offer to buy Lubrizol at $135 a share. I can just picture Liz Claman talking about this today!
Billionaire Warren Buffett, seen above consulting President Obama, may need to look for a new heir apparent with David Sokol submitting a letter of resignation to his board seat for Berkshire Hathway.
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