David Sokol appeared on CNBC earlier today to discuss his resignation from Berkshire Hathaway. Sokol was widely accepted to be the next CEO of Berkshire Hathaway, which made the announcement especially surprising. The announcement came via Warren Buffett in what he described as “a very unusual press release on Wednesday afternoon.”
Today Sokol was on CNBC discussing the resignation in greater detail. There are a lot of articles on the topic of the resignation, it was also front page of the WSJ today. I am not an expert on Berkshire or Sokol and try to avoid commenting on topics I am not fully versed in. There are also a lot of dumb articles written by people who do little research, which seems to not be a pre-requisite these days (I am far from innocent in this regard!). If you want good coverage of the story read this well researched story by Ravi of Rationalwalk Sokol’s Resignation Raises Questions Regarding Lubrizol Transaction and his other article Sokol: My Mistake Was Suggesting Lubrizol to Buffett. These are the only well researched article that I have seen to date. I do not read every blog, and there are thousands of articles on the topic today. So if anyone thinks any of them are worth mentioning I would be glad to add them. Without further to do, below is the interview.