In regard to life at Berkshire after Sokol, Charlie is far from concerned: “Take somebody who is even more remarkable - Warren. In my opinion Berkshire will flourish after Warren’s gone. I don’t think anybody is essential given the momentum we now have in place.”
Most importantly, the Berkshire system of decentralization isn’t going to change much anytime soon: “It’s the most efficient kind of organization you can possibly have, is a seamless web of deserved trust… why would we change it when it has worked so well just because we’ve had one glitch?”
I agree with Mr. Munger completely: The culture they have created is the reason why people call Warren Buffett when they want to sell and become a part of the corporate umbrella of Berkshire Hathaway. Why they would consider making any major changes as a result of one small issue (that in my opinion has become such a big issue because of the way the story was slowly put together to create the complete picture) is something that I personally think is unnecessary and counterproductive.
Here is the link for the video; enjoy: Munger Interview