Bid to remove Warren Buffett as chair of Berkshire Hathaway rejected at meeting
A LONG-shot bid by a conservative group to remove Warren Buffett as chair of Berkshire Hathaway failed by a wide margin at the company’s annual shareholder meeting in Omaha on Saturday (May 6).
The National Legal and Policy Center said in its proposal that Buffett’s ties to Bill Gates and his political views could hurt investors as it urged the separation of Buffett’s roles. Berkshire has said that Buffett will remain the board chair as long as he is chief executive officer, but once he steps down, a non-management member of the board would serve as chair.
Buffett said at the meeting at the CHI Health Center that donations he’s given to the Bill and Melinda Gates Foundation were his money and not from Berkshire Hathaway.
Speaking in support of the proposal, which was one of six up for a vote, Peter Flaherty, chair of the National Legal and Policy Center, mentioned Gates’s association with Jeffrey Epstein, the disgraced financier and sex trafficker. It then appeared Flaherty’s microphone was cut off. Omaha police later charged him with trespassing.
Berkshire Hathaway and CHI Health Center didn’t respond to requests for comment, and the police department declined to comment. Flaherty was released on US$250 bail. BLOOMBERG
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Former PAP MP, minister of state retire as company directors
US: Wall St opens higher
Air China to buy 100 locally made C919 jets in US$11 billion deal
HCA beats first-quarter profit estimates on higher patient admissions
F&B operator YKGI to exclusively operate Chicha San Chen in Macau for next eight years
LMIRT Q1 net property income dips 3.1% to S$30 million on higher expenses