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Buffett’s Ties to Bill Gates Put Berkshire Investors at Risk, Activists Say

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On the eve of the annual shareholder meeting of Berkshire Hathaway Inc., a prominent conservative advocacy group is calling for Buffett to be removed as chairman because of his long ties to fellow billionaire Bill Gates, whose private foundation supports gender equality, among other issues. The proposal stands little chance of passing at Saturday’s meeting, typically an annual celebration of all things Buffett.

The proposal by the National Legal and Policy Center is a rare public rebuke for Buffett and the company with which he’s synonymous. It comes as the firm faces questions about corporate structure, and as succession planning for the 92-year-old becomes increasingly pressing. The legendary stock picker would keep just his chief executive officer post under the proposal up for a shareholder vote in Omaha, Nebraska.

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