Berkshire rejects shareholder call to replace Billionaire Warren Buffett as chairman

The company, run by Buffett since 1965, also said the 91-year-old received US$373,204 in compensation for 2021, down from $380,328 a year earlier, comprising his usual $100,000 salary plus personal and home security.Though Buffett's salary is low for a chief executive officer of a major company, his 16.2% Berkshire stake comprises most of his $117.9 billion net worth, which Forbes magazine said makes him the world's fifth-richest person.

Berkshire Hathaway Inc on Friday urged the rejection of four shareholder proposals recommending that it replace Warren Buffett as chairman, report on its plans to handle climate risk and reduce greenhouse gases, and improve diversity.

The company, run by Buffett since 1965, also said the 91-year-old received US$373,204 in compensation for 2021, down from $380,328 a year earlier, comprising his usual $100,000 salary plus personal and home security.