Goldman Sachs Director Johnson Opposed by Buffett-Linked Fund
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James A. Johnson, the longest-serving member of Goldman Sachs Group Inc.’s board, is being opposed for re-election by a fund management company that boasts long-time links with billionaire Warren Buffett.
Ruane, Cunniff & Goldfarb Inc., the New York firm that helps oversee $15 billion, including the $5.7 billion Sequoia Fund Inc., criticized Johnson’s role in “egregious corporate governance debacles” in a letter on its website yesterday and said it would also oppose Johnson if he stands for re-election to the board of Target Inc. The Financial Times reported on the letter’s contents earlier today.