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Berkshire Shareholders will keep Warren Buffett as chairman

5May By PriyankaNo Comments

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Berkshire Shareholders will keep Warren Buffett as chairman

5/5/2022, NY, CALF: In a filling on Wednesday, Berkshire Hathaway Inc. mentioned that shareholders vote to keep Warren Buffett both chairman and chief executive. The proposal, which called for an independent chair, received only 54,425 votes (about 11%) to 448,868 against (89%), according to the filing. In the form 8k, all other 14 Berkshire directors including Buffett; Vice Chairmen Charlie Munger, Greg Abel and Ajit Jain; and lead independent director Susan Decker won reelection with more than 86 per cent of votes cast. The Company has also received a letter from the NYSE that acknowledged that the Company is back in compliance with the continued listing standards establishing a majority of independent directors on its board. Buffett, 91, became CEO of Berkshire in 1965, and has...

Elon Musk to Pay a $20 million Fine & Step Down as the Chairman

Elon Musk, the CEO of the electric vehicle giant Tesla is the largest shareholder of the company and is again looking to buy another $20 million in common stock. As a part of the deal, Musk has agreed to pay a $20 million fine and step down as chairman of the board for at least three years. He will still keep a board seat and has not admitted or denied any of the SEC’s allegations. Along with this, Tesla will pay a separate $20 million fine. The company also agreed to monitor and pre-approve Musk’s communications through channels such as Twitter and the Tesla blog. The 8-K document detailed a settlement agreement between Musk, Tesla and the SEC over allegations of securities fraud connected to his August 7 “funding secured” tweet about taking the electric automaker private. At the...

Tesla’s Second Largest Shareholder Acquires Stake in Rival Nio

The second largest shareholder of Elon Musk’s Tesla called Baillie Gifford has now acquired 11.44 percent stake in Chinese electric vehicle automaker Nio which is Tesla’s rival. The company disclosed that it had purchased 85.3 million shares, which were valued at about $515 million as of the close of trading Monday. Baillie Gifford is the largest outside shareholder of Tesla stock. CEO Elon Musk, Tesla’s largest shareholder, own about 20 percent of the company. The filing pushed shares of Nio to close at $7.39, up from its opening of $6.19 this morning. Nio wants to become the Tesla of China and beyond. The company has operations in the U.S., U.K. and Germany, although it only sells its ES8 vehicle in China. Those tariffs, plus other costs like shipping Tesla vehicles overseas, is...