Buffett’s Firm Names Independent Directors

From Reuters

Billionaire investor Warren Buffett jumped into line with proposed corporate governance rules as his Berkshire Hathaway Inc. appointed two independent directors.

Berkshire named Donald Keough, a former president of Coca-Cola Co., and Thomas Murphy, formerly chief executive at Capital Cities/ABC Inc., as directors, putting independent directors in the majority on the board.

Although Buffett is known as a beacon of good management, his company’s board has long dismayed corporate governance experts. The board included Buffett himself, longtime business partner Charles Munger and Buffett’s wife and son.