CalPERS aims to replace Buffett as Berkshire chairman

Staying put Berkshire, which opposes CalPERS’ proposal, says someone outside management should be chairman after Buffett is no longer in charge, but the billionaire should remain chairman and CEO. — AP

NEW YORK: CalPERS, the largest US public pension fund says it will vote for a shareholder proposal that Berkshire Hathaway Inc replace Warren Buffett as chairman, although he would remain chief executive officer (CEO).

The fund, whose full name is the California Public Employees’ Retirement System, disclosed its vote in a regulatory filing ahead of Berkshire’s scheduled April 30 annual meeting in Omaha, Nebraska.