Buffett/Berkshire - general news

[gfp]

Brk proxy

 

https://www.sec.gov/ix?doc=/Archives/edgar/data/1067983/000119312525054877/d812428ddef14a.htm

 

ron Olson ages out!

Any Director who controls a 5% or greater voting interest in the Company will be eligible to be reelected after his or her 80th birthday.

Accordingly, Mr. Ronald Olson who is 83 and has been a Berkshire Director since 1997 is not eligible to stand for reelection.

Edited 6 hours ago by gfp

[John Hjorth]

Page 2, paragraph 1 :

 

Quote

... During 2024, the Board of Directors amended Berkshire’s Corporate Governance Guidelines regarding director qualifications. The amendment provides that except as follows, a director will no longer be eligible for reelection after his or her 80^th birthday.

 

1)

Any Director who also serves as the Chief Executive Officer of the Company shall retire from the Board effective upon his or her retirement from the Company unless requested by the independent directors to continue as a director.

 

2)

Any Director who controls a 5% or greater voting interest in the Company will be eligible to be reelected after his or her 80th birthday.

Accordingly, Mr. Ronald Olson who is 83 and has been a Berkshire Director since 1997 is not eligible to stand for reelection.

Upon the recommendation of the Governance Committee and Mr. Buffett, the Board of Directors has nominated for election the other 13 current directors. ...

 

- I've never in my life seen this combination of age and ownership requirements for director qualification.

Edited 5 hours ago by John Hjorth

[Munger_Disciple]

3 hours ago, gfp said:

Brk proxy

 

https://www.sec.gov/ix?doc=/Archives/edgar/data/1067983/000119312525054877/d812428ddef14a.htm

 

ron Olson ages out!

Any Director who controls a 5% or greater voting interest in the Company will be eligible to be reelected after his or her 80th birthday.

Accordingly, Mr. Ronald Olson who is 83 and has been a Berkshire Director since 1997 is not eligible to stand for reelection.

 

Susan Decker is the new lead independent director. The strange thing is that she owns almost no Berkshire stock. But the proxy states that any new board member nominee should own significant BRK stock relative to his/her net worth. 

[yesman182]

So will Howard and Susan “control” a 5% position when they turn 80 in 9 years?