Berkshire Hathaway CEO Warren Buffett says shareholders will not be allowed to be in Omaha for the annual meeting in May due to the coronavirus threat.
In a letter issued Friday morning Buffett said the annual meeting will be held at 3:45 p.m. on May 2nd as scheduled. "However, we will not be able to allow shareholders to physically attend the meeting, and all special events are canceled. I very much regret this action; for many decades the annual meeting has been a high point of the year for me and my partner, Charlie Munger."
Buffett also said "It is now clear, however, that large gatherings can pose a health threat to the participants and the greater community. We won’t ask this of our employees and we won’t expose Omaha to the possibility of becoming a “hot spot” in the current pandemic. Therefore, we will limit attendance to me, possibly Charlie, and several Berkshire employees who will deliver proxy votes."
Buffett says it’s possible that one or more of the journalists will be present to ask some of the questions submitted to them.
"We are deferring a decision on this matter, but encourage you to continue to send your questions to them. Yahoo has confirmed that it will stream the meeting. They have provided great coverage in the past, and you can watch what takes place in Omaha from your armchair," Buffett said in the letter.
"Charlie and I will miss you, but we will see many thousands of you next year. Thanks for your understanding."