Omaha, Neb., Reuters (Reuters) – Berkshire Hathaway shareholders on Saturday rejected a resolution asking the company to report the risks of its subsidiary’s race-based initiatives, one of seven proposals that were voted on with diversity, artificial intelligence and other voted.
Shareholders also voted against Berkshire's resolution to report how its business practices influence employees based on race, color, religion, gender, nationality and political perspectives.
The Berkshire Board of Directors is also requested to form a committee to oversee diversity and inclusion committees, allowing independent directors to monitor risks associated with AI and require reports on “voluntary” environmental activities that exceed federal and state requirements.
Buffett unexpectedly announced that he plans to resign as CEO of Berkshire at the end of this year and announced his vote.
He will be replaced by Vice Chairman Greg Abel, who chairs the shareholders' proposed reading.
Buffett controls about 30% of Berkshire's voting rights, and other Berkshire directors oppose all seven suggestions, finding them unnecessary and in some cases inconsistent with the company's dispersed culture.
The board also said Berkshire's operating company has its own policies on race and other employment factors, and Berkshire's overall approach is “simple – comply with the law and do the right thing.”
Businesses at companies across the U.S. have curbed initiatives for public support or diversity, equity and inclusion in the workplace, with conservatives including U.S. President Donald Trump pushing to curb restrictions in the private sector and society, as well as the federal government.
Berkshire generally discusses the hiring practices of its operations in its annual report. In its latest report in February, it removed “diversity and inclusion of the workforce” as a recruitment target.
At Saturday's meeting, Berkshire shareholders also re-elected all eligible directors, including Buffett and Abel. (Reported by Jonathan Stempel in Omaha, Nebraska, edited by Deepa Babington)
