Warren Buffett’s one-day Berkshire reunion to kick off in Omaha

0

OMAHA, Neb., April 30 (Reuters) – Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) is holding its highly anticipated in-person annual shareholder meeting on Saturday for the first time since before the pandemic, where shareholders will have the opportunity to s ask the so-called ‘Oracle of Omaha’ on everything from corporate governance, potential new investments and Buffett’s views on the economy.

Buffett, 91, chairman and CEO of Berkshire, and Vice Chairman Charlie Munger, 98, will take shareholder questions for about five hours when the meeting is held in Omaha, Nebraska. They will be joined by vice presidents Greg Abel, Buffett’s designated successor as CEO, and Ajit Jain.

The meeting can address issues such as recent investments, a still-bloated cash pile, stock buybacks, rising inflation and supply chain disruptions, and even if someone else that Buffett should chair the company. Read more

Join now for FREE unlimited access to Reuters.com

Register

Some investors have started to increase pressure on the conglomerate, which covers businesses such as insurance, energy and candy. Calpers, the largest US public pension fund, and other investors are demanding that Berkshire replace Buffett with an independent chairman, and disclose how its dozens of companies are promoting diversity and addressing climate risks and greenhouse gases. Buffett would remain chief executive.

Still, these may not have a great chance of success until Buffett himself steps down.

However, many shareholders do not attend just for the annual meeting.

Events around town over three days include a 5k (3.11 mile) run, shareholder buys from dozens of Berkshire-owned businesses in the downtown CHI Health Center arena where held the meeting and several private investment conferences.

Berkshire expects attendance to be “considerably lower” than the 40,000 people, many from overseas, common at recent meetings. The 2019 meeting, the last in-person meeting before the pandemic, added $21.3 million to Omaha’s economy.

The meeting will be streamed online at cnbc.com. Berkshire’s first webcast meetings in 2016.

Join now for FREE unlimited access to Reuters.com

Register

Reporting by Jonathan Stempel and Carolina Mandl in Omaha, Nebraska; edited by Megan Davies and Diane Craft

Our standards: The Thomson Reuters Trust Principles.

Share.

About Author

Comments are closed.