This post was originally published on this site
https://i-invdn-com.investing.com/trkd-images/LYNXNPEI2A17C_L.jpg
The nomination was disclosed in Berkshire’s annual proxy filing ahead of the Omaha, Nebraska-based company’s April 30 annual meeting, and will be voted on by shareholders.
Murphy, a longtime friend of Buffett, decided last month to step down from Berkshire’s board following a bout with COVID-19.
That caused Berkshire to fall out of compliance with New York Stock Exchange rules requiring that a majority of board members be independent.
Weitz, 72, founded his namesake Omaha-based firm in 1983. It had about $4.1 billion of assets under management as of Dec. 31.
“Wallace Weitz brings to the board his substantial financial experience as an investor in public companies and as a director of a public company,” Berkshire said.
Berkshire’s board would have 15 members following Weitz’s appointment, including eight considered independent.
