Warren Buffett was re-elected chairman of Berkshire Hathaway by an overwhelming majority of Berkshire shareholders

Berkshire Hathaway Inc shareholders voted by a nearly 9-1 majority to retain Warren Buffett as chairman and CEO, and his company regained compliance with New York Stock Exchange standards by reinstating the most directors independently by appointing its board of directors.

     

In a regulatory filing Wednesday, Berkshire said holders of 448,868 Class A shares opposed a shareholder proposal to appoint an independent chairman to replace Warren Buffett, while holders of just 54,425 shares favoured it. idea of a larger margin, which Berkshire appreciated during its annual report. meeting Saturday. Some shareholders have opposed reappointing Buffett as chairman, saying it would be better for other people to serve as chairman and CEO. Berkshire said he wanted Buffett, 91, to keep both roles.

Wednesday's filing also said three shareholder demands asking Omaha, Nebraska-based Berkshire to disclose more about climate risks and diversity efforts failed by a narrow 3:1 margin. estimated similar margins in Saturday's session. Shareholders also voted to nominate Omaha wealth manager Wallace Weitz as a Berkshire director, giving the 15-member board eight directors deemed independent. Berkshire needed a new independent director after Tom Murphy, 96, the former head of Capital Cities/ABC Inc, stepped down in February following a struggle with Covid-19. All other Berkshire directors, including Buffett; Vice President Charlie Munger, Greg Abel and Ajit Jain; and the main independent director, Susan Decker, was re-elected with more than 86% of the votes cast.

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