Dollars and Jens
Sunday, April 11, 2004
Coke holders urged to drop Buffett
A leading shareholder advisory firm is urging Coca-Cola shareholders not to re-elect Warren Buffett to the company's board later this month, pointing to the beverage giant's business dealings with a company he controls.
Buffett has noted that independence, especially as it tends to be defined, is not a great proxy for whether a director acts in shareholders' interests. Berkshire Hathaway owns 8.2% of Coca-Cola, and I expect accounts for far less than 8.2% of Coke's business. (I own equity in Berkshire Hathaway, though substantially less than 8.2% of the company.)

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