Wed Apr 23, 2014 3:39pm EDT

(Reuters) - Warren Buffett, chairman of conglomerate Berkshire Hathaway (BRKa.N), told CNBC on Wednesday he thinks Coca-Cola's (KO.N) controversial equity compensation plan was excessive, but Berkshire Hathaway abstained in the shareholders vote.

Earlier Wednesday, the company said 83 percent of shareholders approved the plan. Critics, most notably activist investor David Winters, said it would dilute the holdings of current shareholders too much.

Buffett said he and partner Charlie Munger didn't want to vote against the plan because he didn't want to show disapproval of management, and that he has enormous respect for CEO Muhtar Kent.

Buffett also said he has no intention of selling any Coca-Cola shares.

(Reporting By Jennifer Ablan; Editing by Meredith Mazzilli)