The shareholder adviser ISS is recommending investors withhold their votes from four directors at Warren Buffett’s Berkshire Hathaway in a rebuke of the company’s executive pay policies.
The refusal to back the re-election of four members of Berkshire’s compensation committee reflects concern over the pay packages awarded to vice-chairs Greg Abel and Ajit Jain, who ISS said earn some of the largest base salaries of any executives at US public companies.
Several large money managers are already planning to withhold votes from directors on the company’s governance and audit committees at Berkshire’s annual meeting in May.
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