/Warren Buffett Faces Impatient Investors as Berkshire Hathaway Returns Decline – The Wall Street Journal

Warren Buffett Faces Impatient Investors as Berkshire Hathaway Returns Decline – The Wall Street Journal


Professional money managers are turning up the heat on Warren Buffett’s Berkshire Hathaway Inc.

California Public Employees’ Retirement System and Neuberger Berman have demanded that the Omaha, Neb., conglomerate bring in new directors and provide more disclosures on climate risks and executive pay.

Leading up to Berkshire’s annual meeting on Saturday, proxy advisers Glass Lewis & Co. and Institutional Shareholder Services Inc. have recommended that investors withhold their votes for board members.

While many of the complaints aren’t new and none of the shareholder proposals are likely to pass, Berkshire’s lackluster returns in recent years have made it more vulnerable to criticism amid a growing wave of investor interest in corporate sustainability issues.

The shareholder movement to press companies on climate change, social progress and governance continues to gain steam in the U.S., emerging as a key selling point for money managers in their efforts to keep client money.

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