{"id":434327,"date":"2022-04-20T05:06:00","date_gmt":"2022-04-20T02:06:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/calpers-backs-berkshire-shareholder-measure-to-remove-warren-buffett-as-chairman\/"},"modified":"2022-04-20T05:06:00","modified_gmt":"2022-04-20T02:06:00","slug":"calpers-backs-berkshire-shareholder-measure-to-remove-warren-buffett-as-chairman","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/calpers-backs-berkshire-shareholder-measure-to-remove-warren-buffett-as-chairman\/","title":{"rendered":"#: CalPERS backs Berkshire shareholder measure to remove Warren Buffett as chairman"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3d68539d986\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3d68539d986\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/calpers-backs-berkshire-shareholder-measure-to-remove-warren-buffett-as-chairman\/#%E2%80%9C_CalPERS_backs_Berkshire_shareholder_measure_to_remove_Warren_Buffett_as_chairman%E2%80%9D\" >&#8220;: CalPERS backs Berkshire shareholder measure to remove Warren Buffett as chairman&#8221;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/calpers-backs-berkshire-shareholder-measure-to-remove-warren-buffett-as-chairman\/#Influential_pension_fund_also_backs_proposal_for_Berkshire_to_report_its_climate_impact\" >Influential pension fund also backs proposal for Berkshire to report its climate impact<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/calpers-backs-berkshire-shareholder-measure-to-remove-warren-buffett-as-chairman\/#Mike_Murphy\" >Mike Murphy<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9C_CalPERS_backs_Berkshire_shareholder_measure_to_remove_Warren_Buffett_as_chairman%E2%80%9D\"><\/span>&#8220;: CalPERS backs Berkshire shareholder measure to remove Warren Buffett as chairman&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"Influential_pension_fund_also_backs_proposal_for_Berkshire_to_report_its_climate_impact\"><\/span>\n  Influential pension fund also backs proposal for Berkshire to report its climate impact<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\" data-nosnippet>\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000795824\" role=\"document\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"\n                inline\" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetArticleReader\n              \n              inline\n  article__inset\n          article__inset--type-InsetArticleReader\n              article__inset--inline\n  \"><\/p>\n<div class=\"media-object-article-reader\">\n<div class=\"audioplayer\" data-sbid=\"WP-MKTW-0000795824\" role=\"region\" aria-label=\"Listen to Article\" tabindex=\"-1\" id=\"articlereader\" data-show-title=\"false\" data-theme=\"wsj-article-reader\" data-show-header=\"false\" data-show-subscribe=\"false\" data-ads-enabled=\"true\" data-save-publication=\"false\">\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       CalPERS, the country\u2019s largest state public pension fund, disclosed Tuesday that it intends to vote for a Berkshire Hathaway shareholder proposal that would replace Chief Executive Warren Buffett as chairman.<\/p>\n<p> The California Public Employees\u2019 Retirement System revealed its position in <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/919079\/000114036122015045\/brhc10036522_px14a6g.htm\" class=\"icon none\">a filing<\/a> with the Securities and Exchange Commission, ahead of Berkshire\u2019s annual shareholders meeting April 30. The disclosure was first reported by <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/calpers-vote-replace-buffett-berkshire-chairman-2022-04-19\/\" class=\"icon none\">Reuters<\/a>. <\/p>\n<div class=\"paywall\">\n       <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.berkshirehathaway.com\/meet01\/2022proxy.pdf\" class=\"icon none\">The shareholder measure<\/a> from the National Legal and Policy Center calls for an independent chairman and says that the roles are \u201cgreatly diminished\u201d when a single person holds the CEO and chairman titles, resulting in weaker corporate governance.<\/p>\n<p>Buffett, 91, became CEO of Berkshire in 1965, and has been chairman since 1970. Under the proposal, Buffett could continue to serve as CEO.<\/p>\n<p>Berkshire\u2019s board opposes the measure, saying it believes that \u201cas long as Mr. Buffett is Berkshire\u2019s CEO, he should continue as board chair and as Berkshire\u2019s CEO,\u201d though added that in the past Buffett has said that when he is no longer CEO, a non-management director should be named board chair. <\/p>\n<p>The proposal faces an uphill battle; Buffett himself holds 32% of voting interest in the company.<\/p>\n<p>In its filing, CalPERS said it holds over $450 billion in total assets, including about $2.3 billion in Berkshire Class A<br \/>\n        BRK.A,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/208872451\/composite\" class=\"positive\">+0.72%<\/bg-quote><br \/>\n       and B stock<br \/>\n        BRK.B,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/200060694\/composite\" class=\"positive\">+0.53%<\/bg-quote><span>.<\/span>\n      <\/p>\n<p><strong>From 2021:<\/strong> America\u2019s biggest pension fund CalPERS votes to reshuffle allocations, add leverage, in bid to combat low returns<\/p>\n<p>CalPERS also disclosed it supports four other shareholder proposals that the Berkshire board opposes, including one that would require more transparency into the conglomerate\u2019s climate-related risks and opportunities.<\/p>\n<p>A recent study cited Berkshire as the sole holdout among major North American companies in reporting how they contribute to \u2014 or limit \u2014 climate change. Berkshire has significant investments in both renewable-energy companies and fossil-fuel energy companies, but releases no data about its carbon emissions or any other climate issues.<\/p>\n<p>\u201cWe believe it is necessary that Berkshire Hathaway provide shareowners with an annual assessment on how it manages physical and transitional climate-related risks and opportunities,\u201d CalPERS said in its filing. \u201cThis is especially true for companies in carbon-intensive industries or those that have the potential to be significantly impacted by climate change such as utilities and insurance companies \u2013 both of which are contained in the company\u2019s portfolio.\u201d<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>    <span>By<\/span><\/p>\n<div class=\"author mobile-scrim hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Mike Murphy\",\"subhead\":\"The Wall Street Journal\",\"list\":[{\"type\":\"link\",\"icon\":\"bio\",\"url\":\"https:\/\/www.marketwatch.com\/author\/mike-murphy\",\"text\":\"Biography\"},{\"type\":\"link\",\"icon\":\"twitter\",\"url\":\"https:\/\/twitter.com\/mmmmurf\",\"text\":\"@mmmmurf\"},{\"type\":\"link\",\"icon\":\"email\",\"url\":\"mailto:mmurphy@marketwatch.com\",\"text\":\"mmurphy@marketwatch.com\"}]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Mike_Murphy\"><\/span>Mike Murphy<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><ufc-follow-author-widget product=\"marketwatch\" author-id=\"142_MW\" author-name=\"Mike Murphy\" signin-url=\"https:\/\/accounts.marketwatch.com\/login?target=https%3A%2F%2Fwww.marketwatch.com%2Fstory%2Fcalpers-backs-berkshire-shareholder-measure-to-remove-warren-buffett-as-chairman-11650420374%3Frss%3D1%26siteid%3Drss\" panda-api=\"https:\/\/follow-api.marketwatch.com\"><\/ufc-follow-author-widget><\/p><\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C05575-04D4-B545-7C24-B07E908B00AF%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;: CalPERS backs Berkshire shareholder measure to remove Warren Buffett as chairman&#8221; Influential pension fund also backs proposal for Berkshire to report its climate impact CalPERS, the country\u2019s largest state public pension fund, disclosed Tuesday that it intends to vote for a Berkshire Hathaway shareholder proposal that would replace Chief Executive Warren Buffett as chairman&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":434328,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.mktw.net\/im-504450\/social","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-434327","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/434327","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=434327"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/434327\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/434328"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=434327"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=434327"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=434327"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}