This is a live blog of David Sokol's exclusive interview on CNBC's Squawk Box.
He is discussing his surprise resignation as a top Berkshire executive and the revelation that he personally bought shares in Lubrizol before recommending to Warren Buffett that Berkshire Hathaway buy the company.
Sokol had been widely seen as the leading candidate to eventually succeed Buffett as Berkshire's CEO.
All times are Eastern.
8:11 AM: The interview ends with Sokol wishing his granddaughter Lucy a happy birthday.
8:10 AM: Q. In retrospect, given the reaction, would you have done anything differently? A. Looking back, I would not have mentioned the company to Buffett, but would still have bought the Lubrizol stock. "That would be a disservice" to Berkshire, "but if that's what people want to do in the future, that's fine." Sokol doesn't think you can ask executives to not invest their own family's capital in a company that Berkshire had no interest, or even knowledge of, and somehow police that. The only thing you could do is just say if you invest your own money, don't ever mention it to anyone at Berkshire, and that doesn't make sense to me either."
8:09 AM: "19 out of 20 times when we even have a conversation" with a potential acquisition, nothing happens. The Lubrizol deal came together very quickly and was a surprise to him.
8:08 AM: Asked in Buffett will need to tighten internal control at Berkshire to address the press "hoopla," Sokol says he doesn't think Berkshire needs to take any actions.
8:06 AM: Joe notes that Berkshire has a "squeaky clean" reputation and suggests Buffett might have decided to accept Sokol's resignation this time because he was concerned about how the Lubrizol stick buys might affect that reputation. Sokol says Buffett himself would have to say what prompted him to accept the resignation this time.
8:06 AM: Sokol felt the management in place at NetJets had demonstrated it could run the company well.
8:05 AM: Sokol says he felt it was the right time to step down because NetJets could continue to do well without him.
8:04 AM: Sokol says he never got any response from Berkshire after giving Hamburg details of his Lubrizol stock purchases.
8:04 AM: Sokol says it would be an entirely different situation if his company, Mid-American, was looking at a company and he was involved in the decision.