Berkshire Hathaway and Coke Boards Face Investor Pressure

A number of major U.S. corporations will soon come under pressure from Legal & General Investment Management and Aberdeen Asset Management over the composition of their boards. The two rank among the United Kingdom’s biggest asset management firms. When they soon begin voting against corporate board members who have been entrenched for more than 15 years, that will pose problems for companies like Berkshire Hathaway and Coca-Cola. Both have at least three directors who have served on their respective boards nearing two decades now. The concern is that entrenched boards lack independent thinking, which could lead to bad or hesitant decisions on such things as technology implementation and regulations. (FT)