Berkshire Hathaway shareholders who have been left fuming over Sokol-gate will finally get their chance to interrogate Warren Buffett at this weekend’s shareholder meeting, and Buffett is ready for the onslaught.
He told CNBC “he wants to make his first public comments to shareholders this weekend” about the Berkshire probe into Sokol’s Lubrizol holdings and “promises to “welcome all questions” on the Sokol scandal.”
Buffett has remained tight-lipped ever since Sokol’s shock resignation.
When he issued a press release to announce Sokol’s departure, he concluded by saying: “I have held back nothing in this statement. Therefore, if questioned about this matter in the future, I will simply refer the questioner back to this release.”
He’s been quiet since.
In the meantime, story after story in the media has questioned Buffett’s management style and his ability to run the company.
Shareholders were dumbfounded that the trades could have occurred at the top level of Berkshire, right under Buffett’s watch. Reuters reported that “some of Buffett’s biggest investors also say he should have chastised Sokol or told him to sell his stock.”
“I want to hear more about Sokol,” Michael Yoshikami, chief executive of wealth management firm YCMNET Advisors and a Berkshire shareholder said about the shareholder gathering.