David Sokol the 54 year old Mr Fixit to Warren Buffett’s Berkshire Hathaway Inc, and seen by many as his likely successor has resigned following potential insider trading allegations. Sokol purchased Lubrizol stock just prior to recommending a takeover bid, which would have netted him a personal profit of $3mil if the takeover proceeds. Buffett claims he had not asked for the resignation and that it had come to him as a surprise. Insider trading allegations are likely to fail given the purchases were made prior to the takeover recommendation, however a nasty taste is left in the seeking of personal profiteering. Sokol is likely to now devote his future and personal wealth in the start up of investment enterprise.
Inspired by Shira Ovide ow.ly/4ubz3 image source Mike B ow.ly/4ubOj