NEW YORK, May 5 (Reuters) - By one measure, Warren Buffett is the most unpopular director on the board of the company he has built since 1965, Berkshire Hathaway Inc (BRKa.N)(BRKb.N).
While shareholders at Saturday's annual meeting reelected by a wide margin all of the Omaha, Nebraska-based company's directors in an uncontested election, Buffett received more votes against reelection than any other director.
Buffett received 6,232 votes against reelection, or 0.8 percent of votes cast, and 756,041 votes in favor, according to a U.S. Securities and Exchange Commission filing.
Thomas Murphy, a former chief executive of Capital Cities/ABC Inc, and Ronald Olson, a partner at the law firm Munger, Tolles & Olson LLP, received the next-highest no votes, with 5,647 and 5,592, respectively.
Charlie Munger, Berkshire's vice chairman, was next, with 5,219 no votes. In contrast, Microsoft Corp (MSFT.O) co-founder Bill Gates got just 1,147 such votes.
Buffett controlled 31.3 percent of the voting power at Berkshire, a separate SEC filing shows.
He received the second-most votes against reelection at Berkshire's 2009 annual meeting, trailing Murphy.
Buffett is regarded by many as the world's greatest investor and, according to Forbes magazine, is the world's third-richest person.
The market value of Berkshire, which owns some 80 companies and tens of billions of dollars of investments, is roughly $189 billion, Reuters data show. (Reporting by Jonathan Stempel; editing by Andre Grenon)
Share Investor Blog - Stockmarket & Business commentary
Discuss this topic @ Share Investor Forum - Register free
Download the 1977 - 2009 Warren Buffett Letter's to Berkshire Hathaway Shareholders
Recommended Amazon Reading
 | The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel (Revised Edition) by Benjamin Graham Buy new: $14.95 / Used from: $10.10 Usually ships in 24 hours |
 | The Snowball: Warren Buffett and the Business of Life by Alice Schroeder Buy new: $11.00 / Used from: $6.00 Usually ships in 24 hours |
No comments:
Post a Comment