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Berkshire Investors Advised to Withhold Votes on Four Directors

  • Proxy-advisory firm cites concern over executive compensation
  • Calpers, Neuberger Berman oppose same directors on ESG grounds

Berkshire Hathaway Inc. investors should withhold votes for four board members because of ineffective oversight on compensation, proxy-advisory firm Institutional Shareholder Services said.

Executive pay at Berkshire “lacks a measurable link to company performance,” ISS said in a report dated April 16. Two vice chairman at Berkshire, Gregory Abel and Ajit Jain, each receive base salaries of $16 million -- among the highest of any executive at a U.S. company, according to the report.