Capital Calls: Vote is writing on Warren Buffett’s wall

  • 5/3/2021
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LAST DAYS. It’s noteworthy when some 25% of shareholders vote for proposals opposed by the board of directors read more , especially if the chief executive gets to cast nearly a third of the votes and is Warren Buffett. Effectively over a third of pew-sitters in the Church of Buffett think Berkshire Hathaway (BRKa.N) should disclose more about its efforts to address climate change and promote workforce diversity. That’s over twice as many as voted for similar proposals in the past. It’s a reflection, perhaps, of shareholder resentment as the total return of Berkshire A-shares has lagged the S&P 500 Index over the past decade. It may also point to a generational divide between the nonagenarians Buffett and right-hand man Charlie Munger and Berkshire investors. For the moment, Buffett enjoys sufficient fealty from shareholders to beat back such resolutions. His successor, whom Buffett has identified as Greg Abel read more , will be just another CEO hired by the owners. To keep them happy, Abel will need to get up to speed on climate change and diversity stat. (By Robert Cyran) On Twitter http://twitter.com/breakingviews Earlier in Capital Calls: Westpac sets lofty M&A-style cost-cutting goal read more Reliance spotlights a troubled consumer read more UK is late arrival on SPAC launchpad read more EU music probe will ring in Apple’s ears read more Darktrace’s IPO pop is deceptive read more

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