Jonathan Stempel and Carolina Mandl

OMAHA, Neb. (Reuters) – Berkshire Hathaway Inc (NYSE:) shareholders rejected plans to replace Warren Buffett with an independent chair. The shareholder vote also required that Buffett’s company provide more details about climate-related risk and diversity efforts.

Berkshire, a Nebraska-based shareholder organization, stated at the annual meeting that Buffett would be allowed to keep his chairman and chief executive positions by nearly six times as many votes.

Buffett (91) has been running Berkshire from 1965 to the present.

Berkshire shareholder the National Legal and Policy Center said that legendary investor was not able to continue in both positions due to poor corporate governance.

Calpers invested $460 million on April 28th and is America’s largest public pension fund. Calpers supported the proposal, just like other companies.

Berkshire’s board said that Buffett should retain both of these roles. Buffett’s oldest child, Howard Buffett (a Berkshire director), will likely become a non-executive chair when his father steps down.

The shareholders rejected the proposal to make the company more transparent about its climate-related risks and greenhouse gas emissions.

Berkshire’s board resisted the proposals as well, noting that operating businesses had already reported or adequately managed any environmental risks and they were fully committed to equality, diversity, and inclusion.

Due to Buffett holding 32% of Berkshire’s vote power, it was unlikely that the proposed legislation would be accepted. He holds approximately 16% stock in Berkshire.

Shareholder approval was unanimous for the Berkshire slate of 15 directors.