OMAHA, Neb. (AP) — A top executive of Berkshire Hathaway who was believed to be on the inside track to one day succeed billionaire Warren Buffett as CEO has resigned suddenly.
Buffett said Wednesday that David Sokol's resignation letter, delivered by his assistant late Monday, came as a “total surprise.” But the resignation letter arrived less than two weeks after Buffett learned about stock trades that Sokol made before Berkshire announced its $9 billion acquisition of chemical company Lubrizol.
Buffett said Sokol, who had been serving as chairman of Berkshire's MidAmerican Energy, NetJets and Johns Manville units, indicated that he wants to spend more time on philanthropy.
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