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Comcast COO Tapped by Buffett's Board

OMAHA, Neb. ( TheStreet) -- Warren Buffett's Berkshire Hathaway (BRK.B - Get Report) named Comcast (CMCSA - Get Report) Chief Operating Officer Stephen Burke to its board of directors on Tuesday.

The Berkshire board has received increased attention of late, not only as the market has placed more pressure on all corporations to increase the number independent directors on their boards, but as Berkshire's stock becomes more widely traded among investors.

The biggest day for mass trading in Berkshire shares is yet to come: a 50-for-1 split of the holding company's class B common stock, stemming from its takeover of railroad operator Burlington Northern (BNI), is slated for next month.

After the split, it's widely believed that Berkshire will be added to the S&P 500, a watershed event that some Berkshire watchers believe will also significantly increase trading in the name .

Notably, Comcast is also a Berkshire portfolio holding, though Buffett only owned 0.4% of the cable company as of Berkshire's last quarterly report. Buffett has had a habit in the past of aligning his portfolio picks with his board's composition. Former Coca-Cola (KO - Get Report) president Donald Keough is a Berkshire director; Berkshire owned close to 9% of Coca-Cola as of its last quarterly report.

In a statement, Buffett described Burke as "business-savvy, owner-oriented and keenly interested in Berkshire, the three ingredients we look for in directors."
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MFST $0.01 0.00%
BRK.B $129.83 0.00%
CMCSA $58.72 0.00%
KO $40.39 0.00%
AAPL $110.38 0.00%


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