Coke Plan Leaves Some Dry

At Berkshire Hathaway's (BRK.A Quote) annual meetings, the holding company's legendary CEO Warren Buffett has often sounded off on his disapproval of compensation practices in the boardrooms of corporate America.

"I am never asked to sit on compensation committees because of my well-known views on the subject," Buffett reportedly once said. "If you belch too much at the dinner table, you're not invited back."

While the Oracle of Omaha will be stepping down from the high-profile board of directors at Coca-Cola (KO Quote) later this month, those who remain will now be subject to a process that he has long advocated: performance-based compensation. The question that looms, though, is to what extent the change will affect board decisions. ...