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Circumstances surrounding David Sokol’s recent resignation from Berkshire Hathaway are credit negative for the company, Moody’s Investors Service says, due to an appearance of conflict of interest and, more broadly, management-succession risk at the company.

Circumstances surrounding David Sokol’s recent resignation from Berkshire Hathaway are credit negative for the company, Moody’s Investors Service says, due to an appearance of conflict of interest and, more broadly, management succession risk at the company.

A top executive of Berkshire Hathaway who was believed to be on the inside track to one day succeed billionaire Warren Buffett as CEO has resigned suddenly.

Berkshire Hathaway now has four internal candidates to eventually replace Warren Buffett as chief executive, two of which come from insurance units.

Columbus, Ohio-based specialty property and casualty insurer Bancinsurance Corp. plans to go private, offering $8.50 a share for its common stock in an all cash offer.

Mr. Sokol recently retired from the company following a 37-year career with Bancinsurance. He served as chairman of the board since the company was formed in 1970 and as its CEO from 1980 until his re

Mr. Sokol recently retired from the company following a 37-year career with Bancinsurance. He served as chairman of the board since the company was formed in 1970 and as its CEO from 1980 until his re