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Berkshire Shareholders Reject Proposal to Remove Warren Buffett as Chairman

MarketWatch2022-05-05

Warren Buffett isn’t going anywhere.

In a filing Wednesday with the Securities and Exchange Commission, Berkshire Hathaway Inc. BRK.B, +2.45% BRK.A, +2.73% disclosed that a shareholder measure that would have removed him as chairman was overwhelmingly rejected.

The proposal, which called for an independent chair, received only 54,425 votes (about 11%) to 448,868 against (89%), according to the filing. The measure from the National Legal and Policy Center — and supported by CalPERS, the country’s largest state public pension fund — argued that there is weaker corporate governance when the same person hold the CEO and chairman titles.

Buffett, 91, became CEO of Berkshire in 1965, and has been chairman since 1970.

Three other shareholder measures, including one to require more transparency into the conglomerate’s climate-related risks and opportunities, also failed by wide margins, according to the filing.

Berkshire held its annual shareholders meeting Saturday in Omaha, Neb.

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Comment22

  • Ermmmmmm
    ·2022-05-06
    Hahaha
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  • Ironman2002
    ·2022-05-06
    Long live Buffet!
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  • LWZ2218
    ·2022-05-06
    Good job
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  • Targarean
    ·2022-05-06
    Did anyone actually think that the shareholders would vote to remove Buffett?! Thank God there are still many shareholders who can think straight 
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  • yensen76
    ·2022-05-05
    👍
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  • Eded
    ·2022-05-05
    if Can , I will raise motion to remove Cathie from ARkk
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  • 慢的老人
    ·2022-05-05
    Warren Buffett is the gift that keeps on giving for all $Berkshire Hathaway(BRK.A)$shareholders. Those who wanted to vote him out must hate their own money. [LOL] 
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  • JLCH
    ·2022-05-05
    yo
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  • JLCH
    ·2022-05-05
    yo
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  • AlaRicUnagi
    ·2022-05-05
     👍🏻
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  • Gackky
    ·2022-05-05
    91 years old still working and carry the burdenof the whole company on his shoulder while many of us thinking of financial freedom and not working by 30 years old[Facepalm] [Facepalm] 
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  • Turbobo
    ·2022-05-05
    K
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  • Turbobo
    ·2022-05-05
    K
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  • GuSen
    ·2022-05-05
    Legends never die (retire). The spirit lives on.
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  • BlueDaisy
    ·2022-05-05
    He can't retire. He enjoy the work anyway.
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  • Dragonbody
    ·2022-05-05
    [Cool] 
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  • Maxsoh49
    ·2022-05-05
    He's the blood of BRK and will be great to see him continue 
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  • Maxsoh49
    ·2022-05-05
    He's the blood of BRK and will be great to see him continue 
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  • Maxsoh49
    ·2022-05-05
    He's the blood of BRK and will be great to see him continue 
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  • candyysk
    ·2022-05-05
    Ok
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