REUTERS: Warren Buffett on Saturday called on corporate America to make their boards of directors more accountable to shareholders and less beholden to chief executive officers, perhaps by reducing their pay and requiring that they buy more stock.
He said one large American company he did not identify recently had eight directors who never bought its shares with their own money. And the voting influence of most Berkshire directors is limited because Buffett, considered by many among the world's greatest investors, controls nearly one-third of the voting power despite owning only about one-sixth of Berkshire's stock.
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