Buffett'S Number One Successor Resigned &Nbsp; Hathaway'S Shares Fell Sharply.
David Sokol, who has always been regarded as Buffett's top successor, resigns from Berkshire Hathaway.
The company's share price fell sharply after the announcement.
Sokol resigned as chairman of MidAmerican of Berkshire's utility company and chairman and chief executive officer of NetJets, a partially owned aircraft.
After Sokol resigned, Buffett announced that Abe, chief executive of MidAmerican, will also serve as chairman of the board.
Hansell, President of NetJets, will serve as chairman and CEO.
Prior to that, Sokol had suggested that Buffett buy shares in Lubrizol, but Buffett did not accept Sokol's proposal. Sokol then bought the company's shares in his own name.
Speculation is that this incident is the biggest inducement of David Sokol's resignation.
This disclosure made Buffett's meticulous succession plan indeterminate.
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