Business Desk
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
SOFT DRINKS
BUFFETT TO LEAVE COCA-COLA BOARD
Coca-Cola Co. said billionaire investor Warren Buffett, the soft-drink maker’s largest shareholder, will leave the board after 17 years. Mr. Buffett wants to spend more time managing Berkshire Hathaway, Atlanta-based Coca-Cola said in a statement yesterday. Berkshire holds an 8.4% stake worth $8 billion and will continue as a shareholder. Mr. Buffett joined the board in 1989 and his term expires on April 19.
– Bloomberg News
IN BRIEF
Amy Butte, the New York Stock Exchange’s chief financial officer, will leave the Big Board at the end of May, the NYSE said yesterday … Morgans Hotel Group Co., the company founded by boutique hotel pioneer Ian Schrager, raised $360 million in an initial stock sale yesterday, tapping the busiest IPO market in six years … Crude oil fell below $60 a barrel and gasoline futures dropped to the lowest in almost a year as a warm winter cut fuel needs, leaving inventories plentiful.
– Bloomberg News
