LIVE BLOG – David Sokol’s Live Interview on CNBC’s Squawk Box


berkshire hathawayThis is a live blog of David Sokol’s exclusive interview on CNBC’s Squawk Box.

He is discussing his surprise resignation as a top Berkshire executive and the revelation that he personally bought shares in Lubrizol before recommending to Warren Buffett that Berkshire Hathaway buy the company.

Sokol has been widely seen as the leading candidate to eventually succeed Buffett as Berkshire’s CEO.

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8:11 AM: The interview ends with Sokol wishing his granddaughter Lucy a happy birthday.

8:10 AM: Q. In retrospect, would you have done anything differently? A. Looking back, I should have not mentioned the company to Buffett, but would still have bought the Lubrizol stock. “That would be a disservice” to Berkshire but Sokol doesn’t think any executive should be prevented from investing in a way that would help his or her family.

8:09 AM: “19 out of 20 times when we even have a conversation” with a potential acquisition, nothing happens.  The Lubrizol deal came together very quickly and was a surprise to him.

8:08 AM: Asked in Buffett will need to tig hten internal control at Berkshire to address the press “hoopla,” Sokol says he doesn’t think Berkshire needs to take any actions.


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