A long-shot bid by a conservative group to remove Warren Buffett as chair of Berkshire Hathaway Inc. failed by a wide margin at the company’s annual shareholder meeting in Omaha on Saturday.
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.
