Berkshire Hathaway Director Ronald Olson To Step Down, Board Opposes Shareholder Proposals

Berkshire Hathaway announced that long-time Director Ronald Olson will step down due to a policy requiring Directors, except Warren Buffett, to leave after turning 80.

The company’s proxy statement for its May 3 annual meeting revealed that its Board unanimously opposed seven shareholder proposals, including three related to diversity and anti-discrimination. Buffett’s 2024 compensation was USD 405,111, while Vice Chairmen Greg Abel and Ajit Jain earned USD 21 million each. Olson, 83, has been a Director since 1997 and is leaving under the updated Corporate Governance guidelines.

The Board opposed shareholder proposals on diversity oversight and AI risk management, maintaining that subsidiaries set their policies and that Berkshire follows legal and ethical standards.