Many people have long wondered about Berkshire Hathaway’s (BRK.A) succession plan. A move by David Sokol today may be a hint at it.
Warren Buffett has said Berkshire has three internal candidates, including one who could step in immediately, and would like any successor to be young enough to stay on for 15 years. Sokol, the now former CEO and still Chairman at Berkshire’s Mid-American energy subsidiary is 51 years old.
Sokol told the Omaha World-Herald that ending his 17-year run as MidAmerican chief executive will free him to work on acquisitions. He said, “My 100 percent allegiance is to Berkshire and MidAmerican. I’m not going anywhere.”
Could the move be designed to give the new CEO, Gregory Abel time to adjust to his role and assure a smooth transition should Sokol be taking over the operations end of Berkshire?
Buffett has long said the new post would be split into operations and investments. Sokol is very qualified to handle Berkshire’s operations.
Disclosure (“none” means no position):None
