Buffett's ‘heir apparent' resigns as share controversy grows

David Sokol, the man considered to be the most likely candidate to succeed Warren Buffett as chief of Berkshire Hathaway, has unexpectedly resigned.

He had found himself at the centre of controversy after purchasing shares in Lubrizol, which was later acquired by Berkshire, the Guardian reports. However, Buffett has denied the purchase had anything to do with the resignation and says Sokol had told him he owned shares in the chemical company when they first discussed the deal in January. In a statement, he adds neither of them felt "his Lubrizol purchases were in any way unlawful". In the middle of March, Berkshire announced the $9bn (£5.6bn) takeover of Lubrizol, while Sokol bought nearly $10m of shares in the company before t...